The Securities and Exchange Commission (SEC) has advised the investing public not to fall for “fake news” that fraud charges against Kapa-Community Ministry International had been dismissed.
In an advisory issued on May 21, the SEC stated that the criminal cases against Kapa for violations of Republic Act No. 8799, or The Securities Regulation Code (SRC), remained pending in various courts.
The SEC noted that Kapa founder and president Joel Apolinario—along with the group’s other officers—had only managed to secure conditional and temporary liberty after posting bail.
According to the SEC, Kapa supporters and promoters have been circulating videos featuring a purported telep…
Keep on reading: SEC says Kapa execs not yet off the hook