IF AN investment opportunity sounds too good to be true, it probably is.
It’s an advisory the Securities and Exchange Commission (SEC) has issued to the public on several occasions.
So when the Kapa-Community Ministry International Inc. promises a “30 percent return per month until forever” on a “donation,” it raises a red flag.
The Commission did hoist one up for Kapa and for 22 other unregistered entities, but that didn’t stop people like Rhandy, Gwen and Cathy (not their real names) from parting with their own hard-earned money and turning it over to the religious corporation.
The last time I checked, there is no law against stupidity, ignorance, greed or hoping for a happy ending.
So the Commission can only huff and puff till its face turns blue or the Police Regional Office 7 can issue idle threats to police personnel who invest in Kapa although I doubt it can even legally relieve them for doing so considering they’re using their own money and not the State’s.
Alma Estrada-Dalena, a securities counsel, told SunStar Cebu that the Commission was planning to form an inter-agency task force with authorities “to address concerns on the alleged investment scam” of Kapa and other financial companies.
But Dalena was quick to point out that not one individual has gone to their office to complain or to inquire about these entities.
In other words, how can there be fire when there is no smoke?
Kapa and company might have promised guaranteed returns or pressured potential members or customers into buying right away, but no harm has been done without a complainant. And even if someone did show up complaining, SEC’s function is only administrative. It cannot make arrests or forcibly close these firms without the help of law enforcement agencies, Dalena said.
For members of Kapa here in Cebu, the religious corporation has, so far, lived up to its promise of a “30 percent return per month until forever.”
Testimonies of Rhandy, Gwen and Cathy seem to attest to the legitimacy and sincerity of Kapa’s operations.
If they are to be believed, many people have received “love gifts” that had far exceeded the amount they donated to the ministry. At least, that’s what all three are claiming.
Cathy did admit to having apprehensions after reading about the negative publicity but, according to her, she had already recouped her original donation of P50,000. So if something did happen to Kapa, she wouldn’t suffer that much. Financially, that is.
After all, how can something that promises to help the poor earn a lot of money be that bad?