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BSP Statement on KAPA

08.28.2019

The Bangko Sentral ng Pilipinas (BSP) advises the public that it has not released any statement or any issuance concerning the Kapa-Community Ministry International, Inc. (KAPA) or any of its affiliates.

KAPA is not a BSP-supervised entity.

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 (SEC).

SEC has already issued a cease and desist order against KAPA in February 2019 and an order of revocation of its certification of incorporation in April 2019 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.

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