3 Senatorial Candidates Use Campaign Money from Kapa Ministry Investment Scam

At least three senatorial candidates on the May 13 Elections used millions of funds generated from investing into the controversial religious group, Atty. Noli Nolasco, spokesman of the Court of Appeals said on Monday.

The lawyer, however, did not mention any name or identify if the three won or lost in the recent elections but said that one of the candidates is from Manila, and the other two are from Mindanao.

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 President Rodrigo Duterte had ordered authorities to shut down Kapa, which is operating as a religious group.

SEC Chairman Emilio Aquino said on Monday that regulators had held back in taking action vs Kapa because it was operating as a religious organization.

Court injunctions also caused setbacks, Aquino said.

But he also maintained that no court below the Court of Appeals can stop the decisions of the SEC.

"We intend to pursue criminal charges against the officials and defenders of Kapa," Aquino said.

Aquino said Kapa did not have the appropriate secondary license for investment products, but still solicited what it called "donations" promising returns as high as 30 percent per month.

The SEC said Kapa promised billions of pesos to its members, but the group's assets cannot back up such claims.

Nolasco said an estimated P123M was shared by the three candidates and helped finance their campaign. He also added that if proven right, the three could be held liable for making money from an investment scam.

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