THOSE who put in so much money in Kapa (Kabus Padatuon), a money investment scheme that is similar to pyramiding, have every reason to get mad at President Rodrigo Duterte and Pastor Apollo Quiboloy. It was in the TV program of Quiboloy that Duterte issued the order to the police and the National Bureau of Investigation (NBI) to close down Kapa and arrest those responsible because it’s an illegal money scheme.
The Securities and Exchange Commission (SEC) had issued advisories as early as March 22, 2017 and a cease and desist order (CDO) on April 3, 2019, but Kapa just ignored them. It took a verbal order from the President in a TV show before the police and the NBI acted to close down the money investment operation of Kapa.
The reason that the police were, perhaps, lackadaisical in acting against Kapa is that some cops have invested money in it. Police Regional Office 7 Chief General Debold Sinas has ordered the policemen who invested in Kapa to explain their participation. These cops were only tempted by the quick 30 percent return on their money investment. Who wouldn’t anyway? Banks and government securities can’t offer that much interest.
Although SEC, the police and the NBI have justified their somehow late action, it cannot be disputed that they only acted with resolve after the President’s verbal order.
Now, those who just put in their money this late would not get any 30 percent return. Lucky were those who have donated their money early and were able to claim their 30-percent interest. Now, the members of Kapa have laid the blame on Quiboloy and President Duterte for the mess they’re in.
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Cebu City Councilors Bebs Andales and Alvin Arcilla, who ran and won in the last local elections, could lose their seats if the Commission on Elections (Comelec) en banc affirms the decision of the Division that they were ineligible to run again after they completed their three terms or nine years in office as councilors.
Andales, a lawyer, and Arcilla relied on the theory that their last term in office was interrupted when they and the other councilors were ordered suspended by the DILG for accepting calamity aid even when there was no calamity that hit Cebu City.
Councilors Andales and Arcilla have appealed the Decision of the Division to the Comelec en banc, hoping that it would reverse the decision of the Division. It could be bad news for them because my source said that the en banc’s decision would be out soon, affirming the division’s decision.
So that if the Comelec En Banc affirms the decision of its Division, which is likely, because they belong to one and the same Commission, then BOPK (Bando Osmeña Pundok Kauswagan) would lose two of its stalwarts in the City Council and Barug-PDP-Laban would become the majority.
The decision of the Comelec En Banc is immediately executory, unless the Supreme Court would issue an injunction in a petition that Andales and Arcilla would file. Without the injunction, they would be removed from the City Council and re-electionist Councilors Gerry Guardo and Joel Garganera would take their respective place. What a mess?
Happy Independence Day!