READ their lips. The Central Bank has no statement or action on the Kapa-Community Ministry International Inc. or any of its affiliates.
Close on the heels of a similar warning by the Securities and Exchange Commission (SEC), the Bangko Sentral ng Pilipinas (BSP) on Wednesday issued a statement advising the public that it has not released any statement or any issuance concerning the controversial group now facing various charges from illegally engaging in investment schemes.
“This clarification is being issued in view of reports, particularly on social media, falsely claiming that the BSP has issued a statement purportedly approving KAPA’s investment scheme or questioning delays on its approval by the Securities and Exchange Commission,” the BSP said.
“KAPA is not a BSP-supervised entity,” the Central Bank added.
Earlier on Tuesday, the SEC issued a statement denouncing KAPA’s misrepresentation of the agency in social-media posts that made it appear the SEC had given its nod to a new investment-gathering round by the KAPA.
In February this year, SEC issued a cease-and-desist order against KAPA and an order of revocation of its certification of incorporation in April 2019.
This, after KAPA was found to have been soliciting investments from the public without the necessary license, and that its investment scheme qualifies as a fraud and a Ponzi scheme.