Kapa founder Joel Apolinario, who faced syndicated estafa charges, was arrested by the police in a secluded beach resort in Lingig town, Surigao del Sur province.
The police team was armed with an arrest warrant issued by Judge Gil Bollozos of the Cagayan de Oro City Regional Trial Court and a search warrant issued by Judge Shineta Tare-Palacio of the Surigao del Sur RTC.CrackdownAside from Apolinario, 23 of his men were also arrested. A cache of weapons and assorted bullets were also seized.
Last year, President Rodrigo Duterte ordered authorities to stop the growing operation of various pyramiding investment schemes which supposedly offered a 30-percent return of “donations-cum-investments.” It was Apolinario’s last appearance before his group’s members although similar rallies were also organized in other parts of the country.The Securities and Exchange Commission , on May 21, advised the public not to fall for “fake news” that fraud charges against Kapa had been dismissed.
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