THE DAVAO City Regional Trial Court Branch 16 issued a precautionary hold departure order against eight officials of KAPA-Community Ministry International Inc. in connection with the complaint they face before the Department of Justice (DoJ) for violation of the Securities Regulation Code (SRC).

Justice Secretary Menardo I. Guevarra confirmed that KAPA President Joel A. Apolinario is included in the travel ban.

Undersecretary and DoJ spokesperson Markk L. Perete said they will release a copy of the order once they receive it.

The SEC last June 18 filed a criminal complaint against KAPA, Mr. Apolinario, trustee Margie A. Danao, Corporate Secretary Reyna L. Apolinario, among others, “for perpetrating an investment scam.”

It also included Marisol M. Diaz, Adelfa Fernandico, Moises Mopia, Catherine Evangelista, and Rene Catubigan “for promoting the investment scam.”

The commission said KAPA violated Sections 8(8.1) and 28 of the SRC, which prohibits the selling or offering of securities and engaging in buying or selling of such as broker unless approved by SEC.

SEC also said the group violated Section 26 (26.3) or fraudulent transaction as it “employed a Ponzi scheme, an investment program that offers impossibly high returns and pays investors using the money contributed by other investors.”

The Commission issued a cease-and-desist order against KAPA in February and revoked its certificate of registration in April.

SEC said that it found KAPA to have enticed the public to “donate” at least P10,000 in exchange for 30% monthly return referred to as “blessing” or “love gift” for life and it “involved sale and offering for sale or distribution to the public of securities, in form of investment contracts.”

The DoJ last month also issued an immigration lookout bulletin order against 15 officers and incorporators of KAPA. — Vann Marlo M. Villegas

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