Technically hindi sila ilegal, hindi naman sila Index fund na kung saan nag-gagarantiya ng eksaktong tubo mula sa pera mo, donation naman iyon at choice na ng tao kung mag dodonate sila o hindi.
Substance over form tayo dito. Hindi porke iniba lang ang term eh sasabihin na natin legal sila. Malinaw naman na may garantiya silang offer kada-buwan sa mga bawat magbibigay ng pera.
They are not stock corporation which according to the SEC are not allowed to solicit investments.
"The public is hereby informed that KAPA COMMUNITY MINISTRY
INTERNATIONAL, INC., is registered with the Commission as a non-stock
corporation under SEC Registration No. CN 201707724........
" Based on the records of the
Commission, it is not authorized to solicit investment which require a secondary
license as provided under Sec. 8.1 of the Securities Regulation Code (SRC)......
https://support.coins.ph/hc/en-us/articles/360000166901-What-is-the-latest-SEC-advisory-on-Kapa-Community-Ministry-International-INC-
That's part of the of the whole announcement coming from the SEC I guess which says they are not allowed to solicit investment, although the term is different but obviously it's a clear investment as it promise to have a return of 30% per month.