Researchers

by LuckyLucy 1 Replies latest jw friends

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  LuckyLucy

  I saw this on 60 minutes and it got me thinking what we might find if we started digging into the business affairs of the JW.
  Here is the the story. I cut out part of it.

  http://www.cbsnews.com/stories/2002/07/30/60II/main516922.shtml

  Here's how it worked: Baptist foundation sold its rotten real estate to a company called ALO. The bad investments moved off the foundation's books and over to ALO. But ALO wasn't really a separate company. It was created, controlled, and financed by Baptist Foundation itself. The real estate sales were phony, just an accounting trick to make the foundation's books look good and conceal its overwhelming debt.

  I felt it was safer there than it would be in a bank or any other institution, Charles says. Because we thought we were dealing with Christians and a real Christian doesn't steal your money.

  So she did something that Andersen never did. She turned to the state corporation commission for ALO's financial records, public documents anyone can get.
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  Stephanus

  The difference here is that while the WBTS does use fancy accounting tricks, it doesn't (AFAIK) operate a fund in which individuals invest. Badly handling funds freely donated isn't the same as badly handling money which is to be returned to investors.