Advertisements

Beware of scams


The Kapa Ministry investment scam isn’t the first large-scale estafa case I’ve known about. Last year, several groups preyed on unsuspecting individuals on promises on huge ROI from Bitcoin. It was really a pyramiding scam. In Capiz, I heard that a doctor who started a group soliciting investments for Bitcoin has gone into hiding when investors complained they could not recover their investments.

About eight years ago, Iloilo business persons were also badly hit by the investment scam operated by Reynaldo “Milky” Navarro. The NBI which investigated the case said that as much as P3 billion was lost by investors. Criminal charges of large-scale estafa were filed against Navarro.

I heard about Kapa last year. Bombo Radyo in General Santos had been reporting about its activities. Cases were filed against Pastor Joel Apolinario, but he just kept going with his investment scam.

KAPA OFFICE

Many of its members are police officers, which was perhaps why it was difficult to go against Apolinario.

Last week, President Duterte ordered law enforcement agencies to arrest Apolinario and his cohorts. The SEC has also taken action against Kapa. But Apolinario seems belligerent. He had the gall to tell a lie about President Duterte allowing Kapa to continue its operations.

I guess its victims can’t blame anybody but themselves. It was a scam however you looked at it. A 30-percent monthly return is simply incredible. As the saying goes, when it looks too good to be true, it is too good to be true.

My advice: don’t fall for any investment proposal that offers wild returns on investment. Don’t let greed overcome you and fall prey to these fraudsters.

Advertisements

About Manuel "Boy" Mejorada
Manuel "Boy" Mejorada is a journalist and social media activist. A former Iloilo provincial administrator, he is now waging a crusade against corruption and narco-politics.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: