MANILA- The National Bureau of Investigation filed Monday charges of syndicated estafa against the founder and officials of a religious group accused of masterminding one of the country's biggest investment scams.
Eight counts of syndicated estafa were filed against Kapa-Community Ministry International founder Pastor Joel Apolinario and 13 other officials of the group.
The NBI also filed charges of violation of the Securities and Regulation Code against Apolinario and other Kapa officials due to their supposed engagement in fraudulent transactions.
The Securities and Exchange Commission last month filed a criminal complaint with the Department of Justice for violation of the SRC against Kapa and 8 of its officers and members after it found that the organization was engaged in a Ponzi scheme.
The SEC said Kapa enticed the public to “donate” at least P10,000 promising a 30 percent monthly “blessing” or “love gift” for life.
Last week, Justice Secretary Menardo Guevarra warned Kapa officials and members of possible warrantless arrest if they continue to sell investments without a license.
-with a report from Johnson Manabat, ABS-CBN News