The National Bureau of Investigation is worried that the self-imposed seven-day closure of KAPA-Community Ministry offices would allow Pastor Joel Apolinario an his cohorts to hide evidence of a multi-billion peso pyramid scam.
“So itong nakakatakot, ‘yung sinabi nilang holiday dahil they have enough time para itago, ilipat (ledgers, cash and other records) which they were able (to do),” said NBI Deputy Director Antonio Pagatpat.
The NBI conducted a simultaneous raid on 13 KAPA offices and establishments, including the house of Apolinario in General Santos City. The NBI agents came up virtually empty-handed as the raids yielded a few documents and some cash that was nowhere near the P50 billin estimated by the Securities and Exchange Commission.
In a radio interview, Apolinario announced that KAPA offices would be closed for 10 days (including weekends) or until the search warrants have expired. He promised that KAPA would reopen and fulfill its commitment to provide “blessings” or 30 percent return per month on each member’s investment called “donations.”
The Securities and Exchange Commission has likewise obtained a freeze order on the assets and deposits of KAPA. President Rodrigo ordered the NBI to shut down KAPA for syndicated estafa.
“Nakita na ng Presidente na hindi maganda ang mangyayari doon sa mg victims.
Kung pabayaan ito ng Presidente, pabayaan ito ng NBI, pabayaani ito ng gobyerno, pabayaan ito ng SEC ang putok nito, it may be too late for all of us.
That happened in the past, ang daming scams because we waited for the investors to come to us and file their respective complaints. There was already so much damage and financial loss to the victims,” said NBI Deputy Director Ferdinand Lavin.