Magkasama sa hirap, ginhawa! Court orders arrest of Joel Apolinario, wife, KAPA execs for multi-billion investment scam
A court in Bislig City has ordered the arrest of Pastor Joel Apolinario and other executives of Kapa-Community Ministry International for running an illegal investment scheme.
The Securities and Exchange Commission said the Bislig City Regional Trial Court Branch 29 issued the warrants of arrest on Tuesday, February 11 against Apolinario, his wife and corporate secretary Reyna Apolinario, trustee Margie Danao, and promoters Marisol Diaz, Adelfa Fernandico, Moises Mopia and Reniones D. Catubigan for perpetuating a Ponzi-type scam.
The cases filed by the Department of Justice accuse the seven of selling investments in the Philippines without authority from the SEC.