Tag: Kapa Community Ministry Ponzi scheme

CA freezes Kapa Community Ministry’s assets, bank accounts over Ponzi scheme

(Eagle News)–The Court of Appeals has frozen the bank accounts and assets of Kapa Community Ministry frozen after it was found operating a Ponzi scheme. A Ponzi scheme exists if  high returns are promised to investors, who are paid with  capital given  by subsequent investors. The CA issued the freeze order upon the petition of the Anti-Money and Laundering Council and the Securities and Exchange Commission. The SEC had questioned the current setup of giving […]