The Supreme Court (SC) on Tuesday denied outright the petition filed last week by investors of Kapa Community Ministry International, Inc. (Kapa) to compel the government, through the Securities and Exchange Commission (SEC), to allow the religious group to resume its operations.
An SC source said the petition was dismissed for insufficiency in form and substance. The source did not elaborate.
It told the SC it is a licensed foundation accredited with the Department of Social Welfare and Development and local government units in Metro Manila and Rizal, and that Cirfund is its special project. In their petition, Rhema executives said their constitutional right to due process was violated by SEC and the President when they “railroaded the process of law, making it summary procedure when it is supposed to be in a full-blown trial.”
Last week, the SEC filed with the Department of Justice charges of violation of the Securities and Regulation Code against Kapa, its founder and president Joel Apolinario, trustee Margie Danao, corporate secretary Reyna Apolinario, and officers Marisol Diaz, Adelfa Fernandico, Moises Mopia, Catherine Evangelista, and Rene Catubigan over the alleged large-scale investment scam.
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