NBI raids Kapa founder’s house, offices in GenSan, Davao del Norte
Credit to Author: eestopace| Date: Mon, 10 Jun 2019 14:27:34 +0000
DIGOS CITY, Philippines — Authorities raided the house of the founder of Kabus Padatoon (Kapa) Ministry International in General Santos City, following President Duterte’s order on Saturday to close the firm and arrest its top officials.
READ: Duterte wants Kapa, other investment scams probed, shut down
The raid at the house of Kapa founder Pastor Joel Apolinario was held simultaneously with the raid conducted by the National Bureau of Investigation (NBI) and the Criminal Investigation and Detection Group (CIDG) at the Kapa offices in Tagum and General Santos cities on Monday, June 10.
Malacañang earlier announced that the President received a complaint against Kapa, which prompted him to order its shutdown.
Kapa announced on social media that their ministry is facing oppression and harassment.
“We need to counter this through prayers for we believe that it is the only powerful weapon that we have in this time of crisis,” Kapa said in a statement posted on the company’s Facebook account.
Kapa said they had to close their office starting Sunday (June 9) to prepare for their prayer rally in General Santos City on June 12 in observance a week of prayer.
In March, the Securities Exchange Commission (SEC) issued a cease and desist order against the company for operating without a permit from the SEC.
READ: SEC makes permanent cease-and-desist order vs KAPA
Despite the SEC advisory, Kapa continued to accept investment from members and investors.
In February, the SEC ordered Kapa to stop soliciting investments from the public because it did not have the license to do so.
Without the authority to offer and sell securities, Kapa still recruited and encouraged its members to donate any amount in exchange for a 30 percent monthly return, the SEC advisory noted. (Editor: Eden Estopace)