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Duterte orders NBI, CIDG to shut down religious corporation Kapa

President Rodrigo Duterte on Saturday ordered the National Bureau of Investigation and the Philippine National Police-Criminal Investigation and Detection Group to shut down alleged investment scam Kapa-Community Ministry International, Inc.

“To the CIDG, the police, the special investigating teams including NBI, that is pyramiding. That is why you shut them down and haul them (to courts) upon my orders,” Duterte said in an interview over Pastor Apollo Quiboloy's television show on Sonshine Media Network.

The Securities and Exchange Commission in March made permanent its cease and desist order (CDO) against Kapa to stop soliciting investments without the proper license.

On February 14, the SEC issued a CDO after it found substantial evidence that Kapa offered and sold securities in the form of investment contracts and in the guise of donations, even without the necessary licenses.

The CDO was then served by the SEC on February 21 at the last known address of Kapa in Bislig City in Surigao del Sur and at the residential addresses of incorporators Nonita Urbano and Junnie Apolinario.

Duterte said in the interview that Kapa was clearly "into syndicated estafa" and advised the public that "when it is too good to be true, it is fraud.”

"Imagine, your P100,000 earns P30,000 a month? Even our Bangko Sentral can only give 3%, and that's annually. I have been telling the Filipino people that if what is being promised to you is something like heaven it's fraud,” Duterte said. —Ted Cordero/LBG, GMA News