Due to consistent queries regarding the presence of the KAPPA (Kabus Padatoon) organization in the City, this is to inform the public that there are still no reports received by the PNP-Panabo Station that such organization has victimized citizens. However, we would like to take you to the Advisory issued by the Securities and Exchange Commission (SEC) on March 8,2017. Please read:
The Commission has received information that an entity named KAPPA (KABUS PADATOON) founded by a certain MR. JOEL APOLINARIO is operating in Bislig City, Surigao del Sur and collecting investments from the public with a promise that 30% of one’s investment will be paid back every month until forever.
The public is hereby informed that KAPPA (KABUS PADATOON) is not registered with the Commission as a corporation or partnership. There being no primary license, it is not authorized to solicit investments which require a secondary license as provided under Sec. 8.1 of the Securities Regulation Code (SRC).
The law likewise prohibits any person from engaging in the buying or selling of securities in the Philippines as a broker or dealer as salesman or associated person of a broker or dealer unless registered as such with the Commission (Section 28, SRC).
Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].
In view thereof, the public is advised to STOP INVESTING in this kind of investment activity and to take the necessary precautions in dealing with the above-named entity and/or its representatives.
If you have invested money or were invited to invest in KAPPA (KABUS PADATOON), you may seek the assistance of the SEC – Extension Office of the Securities and Exchange Commission with office address at SEC Building, corner 14th and Tomasaco Del Lara Sts., Cagayan de Oro City or you may call telephone number (088) 857-4325 and (088) 857-7225.”
CAGAYAN DE ORO CITY – Good news to the parents of offenders and addict kids in the city! A new rehab facility is now in the planning stage, according to a press statement released to the media. The new rehab building facility will be constructed just beside the Mother Teresa Compound in sitio...