PASTOR ASHIMOLOWO LOSES $5MILLION TO PONZI SCHEME!

Kingsway International Christian Centre, a 12,000-member megachurch in Britain headed by Nigeria’s Pastor Mathew Ashimolowo, lost $4.8 million to a Ponzi scheme after trustees carelessly invested money in it.

The scam was the brainchild of former Premier League soccer player, Richard Rufus, who used to be a defender for Charlton Athletic. He promised investors along with the church a return as high as 55 per cent.

The Christian Post reporting the findings of an inquiry published 14 December by the Charity Commission for England and Wales revealed that the Kent-based 12,000 members Christian Centre suffered a net loss of about $4.8 million (£3.9 million) after its trustees invested over $6.1 million (£5 million) in four installments between June 2009 and June 2010 . Mr. Rufus was a member and former trustee of the church.

Mr. Rufus had guaranteed that the investments would earn a sizable return totaling about 55 percent in a year.He was last year found guilty of defrauding about 100 investors out of a total of $10,731,159 (£8,682,343) in the £16-million investing scheme.

Kingsway International Christian Centre was the single largest investor in the scheme.

The Charity Commission said in the report that the church’s trustees handed over an initial investment and entered into an agreement in which they were guaranteed that investment would earn a profit of about five percent per month, with the exception of August and December when they were guaranteed profits of about 2.5 percent.

“The inquiry established that in practice, however, the investments resulted in a net loss of £3.9 million to the charity,” the report explains.
The report states that the church’s trustees who handed over the funds were guilty of “mismanagement.”

The commission found that the church’s trustees did not “exercise sufficient care when making the decisions to invest £5 million of the charity’s funds through the ex-trustee’s investment scheme.”

“They did not follow all the principles expected of trustees to ensure they comply with their trustee duties under charity law when making those decisions,” the report said.

The Charity Commission was first alerted to the church’s investment when it found that the church made £3 million of investments with a “qualified independent trader” who was “in a position to provide the services of an investment manager by investing in financial markets.”

After the commission contacted the Financial Services Authority to verify the trustee’s status as a trader, it found that the trustee in question was not, nor had he ever been, licensed to “carry on regulated activities in a personal capacity.”

The commission also found that the investments were paid to the trustee’s personal bank accounts. Additionally, the commission found that the investments “appeared to be speculative and high risk in nature.”

As a result of the commission’s inquiry, an interim manager was appointed to review the trustees’ decisions to invest the £5 million and to decide whether any of the trustees should be held personally liable.

The interim manager found that the trustees did not do enough to investigate whether or not the rate of return they were promised was realistic and put too much trust in the trustee’s good standing with the church and community.

“The interim manager found that conflicts of interest were not managed properly by the decision-making trustees when making the decision to invest.
There was too much reliance on the expertise of the ex‑trustee when he was personally interested and conflicted,” the report states.

“The interim manager found that insufficient consideration was given by the decision-making trustees as to whether the guaranteed rate of return was unrealistically high, or to the potential for fraud.”

After the church entered into an Individual voluntary agreement with the ex-trustee in hopes he could pay back the money lost, the ex-trustee filed for bankruptcy and was declared bankrupt in 2013.

The interim manager also encouraged the church’s current trustees to bring a legal claim against the trustees who decided to invest the money.
Read the full report by the Charity Commission here: Inquiry Report
Read more about Richard’s scam In the Telegraph: Richard Rufu

Source: Pastor Ashimolowo Loses $5million To Ponzi scheme | Sahara Reporters

OPEN LETTER TO PASTOR SAM ADEYEMI FROM A CONCERNED NIGERIAN PSYCHIATRIST!

OPEN LETTER TO PASTOR SAM ADEYEMI FROM A CONCERNED NIGERIAN PSYCHIATRIST BY DR. OLAYINKA OLATUNDE AYINDE

Dear Pastor Adeyemi,

With due respect sir, your public assertion that mental health problems are caused by supernatural forces is completely false and misleading to the public as well as those who respect you and take your public utterances to heart. Sir, I suggest you seek the help of mental health practitioners for advice and guidance before speaking publicly about mental health issues so that you do not cause great public harm.

As of the moment I type these words, we have zero evidence that witches and wizards or evil spirits cause mental illness. Accumulated research over hundreds of years which have consumed billions of man-hours tells us that mental illnesses are caused by biological, psychological and social factors that often interact in a complex manner. It is the effects of these factors on the brain, which is the centre of mental functions, that lead to mental illness.

The biological factors include inherited conditions from our parents’ genes, maternal infections from the womb, maternal consumption of unprescribed drugs and illicit drugs, infections in childhood that are untreated or poorly treated, dangerous drug use and so on. Psychological causes include child abuse, sexual abuse, domestic violence, bullying and so on. Social conditions that can contribute to mental illness causation include poverty and unemployment. Treatments that have been developed according to this model of disease causation have been hugely successful, telling us further that the model is sound.

When uninformed persons attribute mental illnesses to supernatural causes, not only are they misleading the public, they are also inducing unnecessary fear in the public leading to stigmatisation and maltreatment of the mentally ill.

Up to 80% percent of Nigerians with diagnosable mental illnesses do not seek treatment for them. One of the main reasons for this derives directly from statements like yours. Your statement prevents mentally ill persons from seeking help, it makes them feel ashamed and takes away their dignity. It predisposes them to human right abuse by equally uninformed members of the public. It makes them seek help at the wrong places and delays the start of efficacious and effective Orthodox treatment thereby worsening their long term clinical and social outcomes.

Dear Pastor Adeyemi, your church and other churches can help mental health practitioners and the clients they see by referring to proper hospitals, persons with abnormalities in thought, perception, emotion and behaviour that cause them and their families distress, as well as prevent them from functioning optimally at home, work and society.

Also, your church and other churches can help by providing financial and social support to those who suffer from mental illnesses. You can create a mental health fund from your resources for the hospital care of the mentally ill. Humane treatment and respect for the dignity of all, including the mentally ill is something that should be preached from the pulpit.

Mental illness prevention begins from proper care of the developing brain from conception, meaning that women should have adequate care in pregnancy, the home environment should be conducive for the growth and development of children and the thriving of women, and maintenance of loving marital relationships. These can be preached from the pulpit.

Finally, Pastor, mental illnesses are not rare. 1 in 7 Nigerians will have one in their lifetimes. They also do not respect persons. They could happen to you or me or those we know. The overall principle then is this: how do you or I want to be treated when we have a mental illness?

I shall be glad to hear that you passed this message to your brethren and the entire faith community. You have a role to play in the spread of knowledge, in uplifting mankind and preserving the dignity of all men, especially those who are ill or weak and those without a voice.

Thank you for your time.

Sincerely,
Dr. Olayinka Olatunde Ayinde

Dr. Ayinde is a psychiatrist based in Ibadan.

http://saharareporters.com/2016/10/31/open-letter-pastor-sam-adeyemi-concerned-nigerian-psychiatrist-dr-olayinka-olatunde

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JUST IN: BRITISH AMBASSADOR TO SAUDI ARABIA CONVERTS TO ISLAM, ATTENDS HAJJ.

Simon Collins, the British ambassador to Saudi Arabia, has confirmed his conversion to Islam after a lifetime of diplomatic work in Muslim countries, including Iraq and Syria. He was pictured with his wife, dressed in the traditional white robes worn by pilgrims in a photo shared by Saudi women’s rights campaigner Fawziah al-Bakr via social media on Monday. Collins is the first British diplomat to perform the revered pilgrimage to Mecca, known as Hajj. “The first British Ambassador to the Kingdom of Saudi Arabia to do the pilgrimage after his conversion to Islam: Simon Collins with his wife Huda in […]

Source: JUST IN: British Ambassador to Saudi Arabia Converts to Islam, Attends Hajj – NewsRescue.com

Pastor Found With 13 Underage Girls As Sex Slaves, Blames Satan | Sahara Reporters

On a normal day, 36-year-old Chukwuemeka Nwocha, the General Overseer of Tongue of Fire Restoration Ministry located in Igbosere, Lagos, is a ‘man of God’ that his congregation, both young and old, called “Daddy”. But on Friday, as he was being paraded before journalists at the Lagos State Police Command Headquarters in Ikeja, he was no longer a “spiritual daddy”  but a suspect who harboured 13 underaged girls as sex slaves in a three-bedroomed harem.

Source: Pastor Found With 13 Underage Girls As Sex Slaves, Blames Satan | Sahara Reporters

Sex offender priests banned from churches hire themselves out to conduct funerals as freelance clergy

http://www.telegraph.co.uk/news/2016/07/10/sex-offender-priests-banned-from-churches-hire-themselves-out-to/

Messages from the beyond!

Purplerays

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Photo credit: “The Afterlife of Billy Fingers” page on Facebook

Quote from “The Afterlife of Billy Fingers”, the messages of Annie Kagan’s brother, Billy, who died unexpectedly and began speaking to Annie from the beyond (afterlife)!
From the “other side” Billy reaches out to change his sister’s life and the lives of those around her, by sharing secrets about the bliss and wonder to come in the beyond.)

Purplerays: It’s a commendable work; another proof of life after death….for those who still doubt!
A good read for the earnestly seeking ones who are ever grateful to the Light for permitting well-meaning departed souls the possibility to mediate their experiences and realities to earth-inhabitants!
A thought provoking read for knowing ones who recognize that each soul is but a link in the chain of enlightenment and cannot give a complete picture of the beyond; that, all actual ‘seeing’, ‘feeling’…

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Sunday reflection….. I hear the saying…

Purplerays

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” O God,
Whenever I listen to the Voice
of anything You have made ….

The rustling of the Trees
The trickling of Water
The cries of Birds
The flickering of Shadows
The roar of the Wind
The song of the Thunder

I hear it saying …
God is One.

Nothing can be compared with God! ”

– Rabia al- Adawiyya
Photo & text credit: https://www.facebook.com/RumiSaadiHafiz

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