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CEBU CITY, Philippines – Get caught up in investment scams and you may be fired.
This was the warning Brigadier General Debold Sinas, regional director of the Central Visayas police, gave police officers.
The police have been monitoring the Cebu operations of Kapa-Community Ministry International, an alleged investment scam.
Sinas said in a press conference on Monday, June 3, he received word that personnel from the Bureau of Jail Management and the Bureau of Fire Protection in the region were one of the first to join the investment scheme.
“I’m having police monitored too. If we catch anyone investing [in Kapa], they will be relieved and we will confiscate their service firearm,” Sinas said in Cebuano.
He said the number of people who invested in Kapa have reached 10,000 people 3 weeks after it was reported that they were operating in Cebu.
The Securities and Exchange Commission issued a cease and desist order against Kapa earlier this year. A General Santos court denied the group’s motion to lift the order in March.
The group alleged modus is to ask for a “donation” under the guise of religious purposes, while promising a return on their donation with interest.
According to Sinas, Kapa opened an office in Compostela town, but was shut down for operating without permits. – Ryan Macasero/Rappler.com