kapa


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kapa

(ˈkɑːpə)
n
another name for tapa
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
The SEC said Kapa perpetrated a Ponzi scheme that offered hefty returns of as much as 30 percent a month to early investors using the money contributed by later investors.
Under the scheme, the SEC explained Kapa "enticed the public to 'donate' at least P10,000 in exchange for a 30% monthly 'blessing' or 'love gift' for life, without having to do anything other than invest and wait for the payout."
The SEC earlier sought the criminal prosecution before the Department of Justice of the founder and other officials of KAPA, who are being accused of machinating another Ponzi scheme involving P50 billion in investments of its more than 5 million members.
The SEC has already revoked the certificate of incorporation of KAPA for serious misrepresentation.
Kapa was even reported to have advanced the high interest by issuing post-dated checks covering the investors' monthly take.
However, the NBI chief cited that, in the Certificate of Incorporation issued by the Securities and Exchange Commission (SEC), Kapa was a registered independent religious corporation that "does not authorize it to undertake business activities requiring a Secondary License from this Commission..."
The Kapa members, whom the National Bureau of Investigation asked not to be identified in news reports for security reasons, said that they willingly gave Kapa their money, totaling P575,000, as 'donation,' without them being promised any return or reward by anyone from the ministry.
Last July, the NBI filed estafa charges against the founder and officials of the Kapa Community Ministry International Inc.
'KAPA is not a BSP-supervised entity,' the Central Bank added.
Most recently, KAPA falsely claimed that the Bangko Sentral ng Pilipinas released a statement purportedly approving its investment scheme and questioning delays on the part of the SEC.
RELATED:Too good to be true: Why the government is shutting KAPA down The National Union of Journalists of the Philippines said in July that "a few days before his death, [Dizon] had filed a report with the Kidapawan police after he received a challenge to a 'duel'and his station's hotline received a text message from mobile number [redacted] that said: 'Bantay mo Brigada mamatay unya mo bantay2 mo kay naa mupusil ninyo.'(Watch out Brigada because you will die, just wait someone will shoot you.
'NEVER MIND THE TORPEDOES' -I think the KAPA members, especially the poor and those who wrongly feel that this is a quick deliverance from poverty must be told the real story why the scheme is not what the promoters say it truly is.