Mayors ordered to revoke Kapa permits - News Summed Up

Mayors ordered to revoke Kapa permits


DAVAO CITY—The Department of the Interior and Local Government (DILG) has ordered all local chief executives to immediately cancel the business permits given to Kapa Community Ministry International Inc. offices operating in their localities. Alex Roldan, DILG-XI regional director, said on Friday that Interior Secretary Eduardo Año issued the directive on Thursday. Roldan said any local official who would refuse to implement the DILG order would be made to answer to President Duterte. The President ordered the closure of Kapa, saying it was liable for syndicated estafa for engaging in a pyramiding scam and was violating securities laws. The SEC said Kapa was running a Ponzi scheme in which existing investors are paid with funds from new investors.


Source: Philippine Daily Inquirer June 14, 2019 21:10 UTC



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