A party-list lawmaker on Monday disclosed that the new group operating a “ponzi scheme” in Mindanao has been “very active” recruiting would-be investors especially in General Santos City, Davao City, Bislig and in most areas in Central and Southern Mindanao despite a warning issued by the Securities and Exchange Commission on the existence of such group.
Party-list Rep. Jericho Nograles of Puwersa ng Bayaning Atleta urged the National Bureau of Investigation to immediately step up efforts to arrest and neutralize the operation of a group called KAPA Community Ministry International, Inc., which is involved in large-scale investment fraud similar to the notorious Aman Futures Group that victimized nearly 12,000 people also in Mindanao and ran away with P12 billion in cash.
Unlike Aman Futures that only offered high yielding interest income, KAPA also poses as a religious group with a huge number of followers to project stability and credibility, Nograles said.
Nograles said that SEC issued an advisory October last year, warning the public of KAPA’s illegal operation but no law enforcement operation was since conducted to stop it from victimizing more victims.