The leader of Kapa Community Ministry International, Inc. (KAPA), Joel Apolinario, was sentenced to life after leading one of the biggest financial frauds in Philippine history.
In a statement, the Securities and Exchange Commission (SEC) confirmed that the Butuan City RTC Branch 33 found Apolinario guilty of eight counts of charges he related to his illegal activities.
It can be recalled that Apolinario offered a 30% ‘monthly blessing’ for the people who would ‘donate’ to their ministry.
However, the authorities found that KAPA had committed a Ponzi scheme.
KAPA gained national attention after former president Rodrigo Duterte ordered the authorities to investigate the group.
“Imagine, your P100,000 earns P30,000 a month? Even our Bangko Sentral can only give 3%, and that’s annual. I have been telling the Filipino people that if what is being promised to you is something like heaven [it’s a scam],” the former President said.
Apolinario tried to hide his location but was eventually found by the authorities, guarded by several men in Surigao del Sur.
SEC said that the sentence against Apolinario should set a lesson for anyone planning to attempt to do the same scheme in the future.