Solon bares new investment scam modus

February 04, 2019

A PARTY-LIST lawmaker yesterday revealed a new  investment scam which uses the word “donation” and includes religious activities to entice victims to join and place hard-earned money.

PBA party-list Rep. Jericho Nograles called on the  of the National Bureau of Investigation to investigate and start dismantling this new “ponzi” syndicate operating in many parts of Minda-nao.

The syndicate was identified as Kapa Community Ministry International operating in General Santos City, Davao City, Bislig and in other parts of Central and Southern Minda-nao.

According to Nograles, KAPA is involved in large-scale investment fraud similar to the notorious Aman Futures Group that victimized nearly 12,000 people  also in Mindanao and ran away with P12 billion in cash.

Unlike Aman Futures that only offered high-yielding interest income,  KAPA also poses as a religious group, with a huge number of followers to project stability and credibility.

KAPA is headed by Joel A. Apolinario who is also the founder of the group.

Nograles said that KAPA’s scheme is to ask for “donations” from its members and in return, they would get  a monthly 30 percent interest earnings called “tokens” and “love gifts”.

The minimum donation is P5,000 per member to as much as P1 million.