Senate, House probe of KAPA investment scam sought

BUTUAN CITY, Philippines — Victims of Kapa Community Ministry International Inc. have called for an inquiry by the sSenate and House of Representatives into an investment scam perpetrated by the religious group.

The victims of the scam are forming a group to press charges against KAPA officials, according to Lucille Trinidad, who said her parents and siblings lost millions in pesos in KAPA’s investment scheme.

“The total number of victims could be between 20,000 to 30,000 all over Mindanao and the Visayas, not including 10,000 from Luzon because KAPA extended its operations nationwide,” Trinidad said.

She admitted that some of the victims are afraid to come out for fear of police and military personnel and other government officials tagged in the scam.

Philippine National Police chief Gen. Archie Gamboa had earlier ordered the creation of a task force to probe police officers, soldiers and other government employees alleged to be behind KAPA’s investment scam.

“We wanted an inventory of the cases pending before the prosecutor’s office and in courts as we seek guidance and help from the Supreme Court on these cases. These should form part of the Senate and House investigation,” Trinidad said.

She said the investment scam could be the biggest in Asia in terms of the number of victims and amount involved.

KAPA founder Joel Apolinario and 23 of his alleged security escorts were arrested in a resort in Barangay Handamayan in Lingig, Surigao del Sur on Tuesday.

Two of Apolinario’s men were killed and another was wounded in an alleged shootout with law enforcers.

Apolinario and several KAPA officials are facing charges for syndicated estafa for allegedly duping investors across Mindanao of more than P10 billion from 2016 to 2018.

The Securities and Exchange Commission (SEC) said KAPA was found to have solicited investments without securing a secondary license and in a manner resembling a Ponzi scheme.

KAPA enticed the public to “donate” money in exchange for a 30 percent monthly “blessing” or “love gift” for life, the SEC said.