BAYAN, Gabriela to Stage Nationwide Protest in Support to Kapa

Militant groups Bagong Alyansang Makabayan (BAYAN), Gabriela, Kadamay, TUCP and others are preparing for a nationwide rally against President Rodrigo Duterte in support to the alleged religious investment scam Kapa.

On Tuesday, BAYAN Chief Protest Organizer Edwin Latorgo said the rally will be held nationwide and millions of Kapa members who are waiting for their money are expected to join.

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Kapa is registered as a religious group but the Securities and Exchange Commission suspended its permit after it was found out that the organization is involved in fraudulent activities.

President Duterte ordered the closure of the group including the freezing of all of its bank accounts. NBI raid ensued in its offices across Mindanao.

It is estimated that Kapa has collected more than P35 billion pesos from more than 3 million investors.

Latorgo said the protest rally is not politically motivated and the purpose is just to ask Duterte to let the organization continue its operation.

“Marami naman kasi ang natutulungan eh lalo na ang mga mahihirap so wala kaming nakikitag dahilan kung bakit pinasara. Kung paano man kumikita hindi na problema ng gobyerno yon as long as walang naaagrabyado”, Latorgo said.

The SEC and BSP, however, said that this is a pyramid scam and could cause billions of pesos of loses in the very near future when it is no longer sustainable.

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