investment scams in the Philippines - updates

Rappler's latest stories on investment scams in the Philippines

ARTICLE FINDER

Duterte makes 2nd week of November 'Investor Protection Week'

Nov 20, 2019 - 8:36 PM

Proclamation No. 846 tasks the Securities and Exchange Commission to lead the observation and celebration of the 'investor protection week' every year

Kapa-like investment group in Mindanao faces syndicated estafa complaint

Sep 25, 2019 - 5:31 PM

The National Bureau of Investigation files a syndicated estafa complaint – a non-bailable offense – against 39 individuals associated with the ALAMCCO credit cooperative

INVESTMENT SCAM. A complaint for syndicated estafa is lodged before the Department of Justice against Mindanao-based investment group Alabel-Maasim Credit Cooperative or ALAMCCO. Photo by LeAnne Jazul/Rappler

NBI files syndicated estafa complaint against Kapa Ministry

Jul 08, 2019 - 11:31 AM

(UPDATED) Syndicated estafa, a non-bailable offense, is filed against Kapa, which allegedly swindled people through donations and purported investments

KAPA's branch office in Taytay, Rizal on Sunday, June 16, 2019. File photo by Darren Langit/Rappler

[ANALYSIS] Kapa Ministry: A symptom of poor financial inclusion

Jul 04, 2019 - 11:47 AM

Beefing up financial inclusion in the Philippines could be an effective way to stifle the viral spread of Ponzi schemes like Kapa, especially in the provinces

Lapid wants investment scams covered under economic sabotage

Jul 03, 2019 - 2:29 PM

Senator Lito Lapid files a bill to expand the coverage of economic sabotage to include investment scams

SENATE COMEBACK. Senator Lito Lapid wants to include investment scams as acts punishable under estafa. File photo by Inoue Jaena/Rappler

DILG orders mayors to revoke Kapa's business permits

Jun 17, 2019 - 5:10 PM

'Marami na ang naloko at marami pa sa ating mga kababayan ang maloloko sa investment scam na ito kung hindi ito aaksiyunan ng mga mayor,' says Interior Secretary Eduardo Año

KAPA’s branch office in Tatay, Rizal on Sunday, June 16, 2019. Photo by Darren Langit/Rappler

SEC secures over P100 million of Kapa Ministry's assets

Jun 16, 2019 - 5:01 PM

'Kapa amassed wealth through an investment scam, in the guise of religion and at the expense of the investing public,' says Securities and Exchange Commission Chairperson Emilio Aquino

CRACKDOWN. The SEC says over P100 million worth of assets linked to Kapa Ministry have been secured as of June 16, 2109. Logo from Kapa's Facebook page

Kapa-Community Ministry can file impeachment complaint vs Duterte – Trillanes

Jun 14, 2019 - 2:37 PM

'Para sa mga lider at miyembro ng Kapa, magfile ng kasong impeachment laban kay Duterte for culpable violation of the Constitution dahil sa pagbalewala nito sa kanilang religious freedom,' says Senator Antonio Trillanes IV

OPPOSITION SENATOR. Senator Antonio Trillanes IV has some recommendation for Kapa-Community Ministry and the Duterte administration on the Kapa controversy. File photo by Angie de Silva/Rappler

FALSE: Militant groups to 'protest' shut down of Kapa-Community Ministry

Jun 13, 2019 - 5:38 PM

It's not true that Bayan and Gabriela released a statement about Kapa or the alleged protests against its shutdown

Usurious investment schemes are haram, says sharia lawyer

Jun 12, 2019 - 10:07 AM

Salih Musa, a former head of a sharia court in Central Mindanao, says it is forbidden for Muslims to participate in schemes that give outrageous returns as it is already a form of usury

USURY IS HARAM. File photo of Islamic law expert Salih Musa of General Santos City. Photo from Salih Musa's FB account

SEC intensifies crackdown vs investment scams

Jun 11, 2019 - 8:35 PM

The Securities and Exchange Commission taps law enforcement agencies to carry out 24 raids in two days against companies involved in investment scams

EXPLAINER: How Kapa Ministry took advantage of investors

Jun 11, 2019 - 8:19 PM

Kapa Ministry merges religion and social media to orchestrate one of the biggest investment scams in Philippine history

Kapa-Community Ministry Cebu office raided

Jun 10, 2019 - 8:47 PM

The raid comes 3 days after a fire destroyed the office in Compostela town in northern Cebu

Court freezes Kapa-Community Ministry's assets over Ponzi scheme

Jun 10, 2019 - 5:10 PM

The Securities and Exchange Commission calls Kapa-Community Ministry's scheme the largest investment scam in recent Philippine history

Duterte orders shutdown of Kapa-Community Ministry, other investment scams

Jun 08, 2019 - 8:17 AM

'When it is [too] good to be true, that is fraud,' President Rodrigo Duterte says of the get-rich-quick schemes offered by Kapa-Community Ministry International and others

Central Visayas’ top cop warns police vs joining investment scams

Jun 04, 2019 - 6:11 PM

The police have been monitoring the Cebu operations of Kapa-Community Ministry International, an alleged investment scam

8 foreigners, 24 Filipinos nabbed in Pasig over online investment scam

Nov 30, 2018 - 7:43 PM

The top suspect, a certain Owen Lloyd Sterling, remains at large, according to the Philippine National Police

SEIZED EQUIPMENT. Cops seized computers, phones, and routers from the raid. NCRPO photo

Xian Gaza surrenders to police, asks for bail help

Apr 12, 2018 - 2:44 PM

The alleged scammer apparently pokes fun at his surrender, flashing a wide smile and a peace sign inside the police station

'SURRENDERED.' The businessman, accused of scamming people, surrenders to police. Screenshot from Xian Gaza's Instagram account

One Lightning Corporation submits to SEC probe

Mar 23, 2015 - 7:00 PM

Pyramiding company? The firm maintains that it is a legitimate corporation and awaits steps prescribed by the Securities and Exchange Commission