
(Eagle News) — Officers of the Kapa Community Ministry International, Inc. accused of violating the securities law failed to show up at the start of the preliminary investigation of the Department of Justice (DOJ) on Friday, July 5.
Kapa did not send also send a lawyer to represent its officials.
At the start of the DOJ’s preliminary hearings, only officials of the Securities and Exchange Commission were present.
SEC filed a complaint for violation of the Securities Regulation Code (SRC), particularly sections 8, 26 and 18 against KAPA officers led by its founder and president Joel Apolinario.
The seven other Kapa officials named as respondents in the SEC complaint are Kapa trustee Margie Apolinario Danao and Corporate Secretary Reyna L. Apolinario, and promoters Catherine Evangelista, Rene Catubigan, Marisol M. Diaz, Adelfa Fernandico and Moises Mopia.
The criminal complaint was for soliciting investments from the public without the necessary license and through a Ponzi scheme, in violation of Republic Act No. 8799, or the Securities Regulation Code.
Only the SEC officials who filed the complaint against Kapa attended the hearing led by Atty. Jose Aquino, the Director of SEC’s Enforcement and Investor Protection Department.
Two witnesses of the SEC, Lester Bautista and Bryant Chang, also subscribed to their affidavits.
On July 1, the Regional Trial Court of Davao City issued a precautionary hold departure order against the operators and promoters of Kapa-Community Ministry International, Inc.
The order, issued by Executive Judge Emmanuel C. Carpio covers KAPA Founder and President Joel Apolinario, and the seven other respondent KAPA officers, prevented them from leaving the country.
Meanwhile, the DOJ panel of prosecutors chaired by Assistant State Prosecutor Zenamar Machacon-Caparros gave the eight Kapa officials a chance to appear in the next hearing set on July 15.
If they fail to appear again, the case would be submitted for resolution without their side, with only the submissions from the SEC.
(with a report by Moira Encina, Eagle News Service)