The Securities and Exchange Commission (SEC) warns the public against the false claims by Kapa-Community Ministry International (KAPA) about the supposed pending release of its licenses that would have them resume its operations.

The controversial religious group claimed via social media posts that the Bangko Sentral ng Pilipinas (BSP) has allegedly approved its investment scheme.  The BSP denied the claims of KAPA.

“KAPA is not a BSP-supervised entity,” it said in its statement.

KAPA claims it has filed an application for a secondary license to sell and offer for sale securities to the public with the SEC.  It is questioning the SEC for the “delays” on the processing of its application.

The SEC said it has not received any application for a secondary license from KAPA and that KAPA does not have a juridical personality to make such application.

On April 3, the Commission revoked the certificate of incorporation of KAPA in what the SEC calls “serious misrepresentation” for soliciting investments using a Ponzi scheme from  the  public  without  securing  a  secondary license  since it is  nonstock  corporation.

Meanwhile, police officials have tagged KAPA members as behind the murder of Kidapawan broadcaster Ed Dizon, who just came out of his broadcasting shift in local radio station Brigada News FM on July 11. Investigators say Dizon’s commentaries against the group’s investment activities triggered the KAPA members to have him killed.  One of those involved in the killing turned state witness and gave the names of his accomplices to the police. (Rommel F. Lopez)