W T S RESPONSE TO "RAND CAM" ALLEGAT...

by BluesBrother 52 Replies latest watchtower scandals

  • BluesBrother
    BluesBrother

    I have received a reply from the Society regarding this issue. Sorry, no scanner but quoted below .There was just an introduction and concluding paragraph in addition to this :-

    "After looking into the matter when it was first raised, we found that none of the legal corporations used by the Governing Body in caring for the Kingdom interests own stock in Rand Cam Corporation or any associate company involved in developing the diesel engine in question. The facts are that two brothers originally involved in inventing and developing the engine made a private agreement years ago (of which we were not notified) to send a portion of any profits realized from the venture to the Watchtower Society as a gift for its worldwide work. Subsequently, circumstances required that rights to ownership and developing the engine be transferred to a holding company not controlled by them. The Watchtower Society was erroneously listed as a stockholder in information published by the holding company, and this error has now been corrected. Hence, the charge is totally false. Moreover, the Watch Tower Society has received no contributions as a result of the original private agreement between the two brothers."

  • sf
    sf

    Blues,

    It would be most excellent and appreciated if you could get that DOCUMENT scanned up, so as we may copy it and file it.

    By the way, it's my opinion the letter is bull and they KNEW it would be made public.

    sKally

  • UnDisfellowshipped
    UnDisfellowshipped

    Sounds familar, sounds like their U.N. lies.

  • hamptonite21
    hamptonite21

    PLEASE SCAN THAT LETTER. I WOULD LIKE TO SEE THAT.

  • Gerard
    Gerard

    As I stated before: Measured by the same moral and doctrinal standards they impose on its members, there is simply no proper justification to holding on to the "Sister Companies'" shares. Ignorance of their possession is not an excuse because, as a majority share-holder, the WT Society has received no less than 52 SEC filing copies plus -at least- 60 official news releases by REGI updating them on their company's progress. And this is in addition to the thousands of financial reports, memos and other internal correspondence required to operate such corporations for more than 16 years.

    It will be interesting to follow the SEC filings and internal trading reports to see how this was "fixed". But I am not surprised by this denial, that seems to be their default strategy for most problems borne public. Declining responsibility is a pathetic attempt to represent any truth.

    Gerry

    Edited by - Gerard on 26 November 2002 16:49:12

    Edited by - Gerard on 26 November 2002 16:51:43

  • Beans
    Beans

    I believe that some of the previous links having the Watchtowers name on them have been deleted, yes they are tracing there footsteps cause the Apostates are thriving on this. Will they be more careful in the future? I doubt it there to stupid, they have so much to clean up it's not funny.

    Yes they will tell the faithfull JW what they will have to believe and it will again be a non issue!

    Beans

    http://Quotes.JehovahsWitnesses.com

  • GermanXJW
    GermanXJW
    as a majority share-holder, the WT Society has received no less than 52 SEC filingcopies plus -at least- 60 official news releases by REGIupdating them on their company's progress

    As a majority share-holder-yes. But according to the Society's explanation - which sounds sensible to me - they have had no shares at all.

    Two JW who had run the company had a contract to give a percentage of the profit to the WTS. The successors of the JW entrepreneurs found the contract the WTS gets a percentage of the profit and concluded the WTS must be a share-holder.

    If the WTS was NOT a share-holder and did not know about the contract between the two JW they did neither get SEC filingcopies nor news releases.

    I love a good scandal uncovered - but the Society's explanations sound coherent to me up to this point. In dubio pro reo.

  • Nathan Natas
    Nathan Natas

    I have some files in pdf format - downloaded from the SEC a few months ago - the SEC Registration form and Annual Reports for 1996, 1997, 1998, 1999, 2000 and 2001 - EVERY ONE of these documents names the Watchtower Society as a major shareholder.

    If anyone would like to host them, I'll be happy to send them to you. Simon? Randy?

    I have Adobe pdf files of documents that were filed with the Securities Exchange Commission by RGUS on the following dates:

    June 1996: REGISTRATION STATEMENT NO. 33-96974 Amendment No. 3 to FORM SB-2
    Registration Statement under THE SECURITIES ACT OF 1933

    This REGISTRATION STATEMENT NO. 33-96974 says on page 44, "2. Rand Energy Group is owned 51% by Reg Technologies Inc. and 49% by Rand Cam Engine Corp. Rand Cam Engine Corp. is a privately held company whose stock is reportedly owned 50% by The Watchtower Society, a religious organization, 34% by James McCann and the balance by several other shareholders. Mr. McCann has indicated that he donated the shares held by The Watchtower Society to that organization but has retained a voting proxy for those shares."

    * * *
    July 1997: FORM 10-KSB/A ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the Fiscal Year Ended April 30, 1997

    This ANNUAL REPORT says on page 43, "2. Rand Energy Group is owned 51% by Reg Technologies Inc. and 49% by Rand Cam Engine Corp. Rand Cam Engine Corp. is a privately held company whose stock is reportedly owned 50% by The Watchtower Society, a religious organization, 34% by James McCann and the balance by several other shareholders. Mr. McCann has indicated that he donated the shares held by The Watchtower Society to that organization but has retained a voting proxy for those shares."

    * * *
    April 1998: FORM 10-KSB ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE THE SECURITIES ACT OF 1934 For the Fiscal Year Ended April 30, 1998

    This ANNUAL REPORT says on page 50, "2. Rand Energy Group is owned 51% by Reg Technologies Inc. and 49% by Rand Cam Engine Corp. Rand Cam Engine Corp. is a privately held company whose stock is reportedly owned 50% by The Watchtower Society, a religious organization, 34% by James McCann and the balance by several other shareholders. Mr. McCann has indicated that he donated the shares held by The Watchtower Society to that organization but has retained a voting proxy for those
    shares."

    * * *
    April 1999: FORM 10-KSB/A AMENDMENT NO. 1 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended April 30, 1999

    This ADMENTDMENT TO THE ANNUAL REPORT says on page 6,
    "NAME -- CLASS A SHARES OWNED -- PERCENTAGE OF CLASS A SHARES OWNED

    John G. Robertson, Chairman of the Board of Directors, President and Chief Executive Officer (1) (2) 5,680,050 58.9%

    The Watchtower Society (3) 5,371,900 57.5%

    (3) Includes 5,371,900 shares registered in the name of Rand Energy Group Inc. See Note (5) below for an explanation of the beneficial ownership of Rand Energy Group Inc.

    (5) Rand Energy Group Inc. is owned 51% by Reg Technologies Inc. and 49% by Rand Cam Engine Corp. Under Rule 13d-3 under the Securities Exchange Act of 1934, both Reg Technologies Inc. and Rand Cam Engine Corp. could be considered the beneficial owner of the 5,371,900 shares registered in the name of Rand Energy Group Inc.

    Rand Cam Engine Corp. is a privately held company whose stock is reportedly owned 50% by The Watchtower Society, a religious organization, 34% by James McCann and the balance by several other shareholders. Mr. McCann has indicated that he donated the shares held by The Watchtower Society to that organization but has retained a voting proxy for those shares. Accordingly, in Notes (3) and (4) above, beneficial ownership of the 5,371,900 shares registered in the name of Rand Energy Group Inc. has been attributed to The Watchtower Society and Mr. McCann. The Company believes it would be misleading and not provide clear disclosure to list as beneficial owners in the table the other entities and persons discussed in this paragraph, although a strict reading of Rule 13d-3 under the Securities Exchange Act of 1934 might require each such entity and person to be listed in the beneficial ownership table..."

    * * *
    April 2000: FORM 10-KSB ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the Fiscal Year Ended April 30, 2000

    This ANNUAL REPORT says on page 42,

    "NAME -- CLASS A SHARES OWNED -- PERCENTAGE OF CLASS A SHARES OWNED

    John G. Robertson, Chairman of the Board of Directors, President and Chief Executive Officer (1) (2) 5,676,050 56.5%

    The Watchtower Society (3) 5,367,900 53%

    (3) Includes 5,367,900 shares registered in the name of Rand Energy Group Inc. See Note (5) below for an explanation of the beneficial ownership of Rand Energy Group Inc.

    (5) Rand Energy Group Inc. is owned 51% by Reg Technologies Inc. and 49% by Rand Cam Engine Corp. Under Rule 13d-3 under the Securities Exchange Act of 1934, both Reg Technologies Inc. and Rand Cam Engine Corp. could be considered the beneficial owner of the 5,367,900 shares registered in the name of Rand Energy Group Inc.

    Reg Technologies Inc. is a British Columbia corporation listed on the Vancouver Stock Exchange that has financed the research on the Rand Cam Engine since 1986. Since October 1984 Mr. Robertson has been President and a Director of Reg Technologies Inc. SMR Investment Ltd., a British Columbia corporation, holds a controlling interest in Reg Technologies Inc. Since May 1977 Mr. Robertson has been President and a member of the Board of Directors of SMR Investments Ltd. Susanne M. Robertson, Mr. Robertson's wife, owns SMR Investment Ltd. Accordingly, in Note (2) above, beneficial ownership of the 5,367,900 shares registered in the name of Rand Energy Group Inc. has been attributed to Mr. Robertson. The Company believes it would be misleading and not provide clear disclosure to list as beneficial owners in the table the other entities and persons discussed in this paragraph, although a strict reading of Rule 13d-3 under the Securities Exchange Act of 1934 might require each such entity and person to be listed in the beneficial ownership table.

    * * *
    April 2001: FORM 10-KSB ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the Fiscal Year Ended April 30, 2001

    This ANNUAL REPORT says on page 26,

    "NAME -- CLASS A SHARES OWNED -- PERCENTAGE OF CLASS A SHARES OWNED

    John G. Robertson, Chairman of the Board of Directors, President and Director (1) (2) 5,966,050 58.37%
    The Watchtower Society (3) 5,257,900 51.44%

    (3) Includes 5,257,900 shares registered in the name of Rand Energy Group Inc. See Note (5) below for an explanation of the beneficial ownership of Rand Energy Group Inc.

    (5) Rand Energy Group Inc. is owned 51% by Reg Technologies Inc. and 49% by Rand Cam Engine Corp. Under Rule 13d-3 under the Securities Exchange Act of 1934, both Reg Technologies Inc. and Rand Cam Engine Corp. could be considered the beneficial owner of the 5,257,900 shares registered in the name of Rand Energy Group Inc.

    Reg Technologies Inc. is a British Columbia corporation listed on the Canadian Venture Exchange that has financed the research on the Rand Cam Engine since 1986. Since October 1984 Mr. Robertson has been President and a Director of Reg Technologies Inc. SMR Investment Ltd., a British Columbia corporation, holds a controlling interest in Reg Technologies Inc. Since May 1977 Mr. Robertson has been President and a member of the Board of Directors of SMR Investments Ltd.

    Susanne M. Robertson, Mr. Robertson's wife, owns SMR Investment Ltd. Accordingly, in Note (2) above, beneficial ownership of the 5,257,900 shares registered in the name of Rand Energy Group Inc. has been attributed to Mr. Robertson. We believe it would be misleading and not provide clear disclosure to list as beneficial owners in the table the other entities and persons discussed in this paragraph, although a strict reading of Rule 13d-3 under the Securities Exchange Act of 1934 might require each such entity and person to be listed in the beneficial ownership table.

    Rand Cam Engine Corp. is a privately held company whose stock is reportedly owned 50% by The Watchtower Society, a religious organization, 34% by James McCann and the balance by several other shareholders. Mr. McCann has indicated that he donated the shares held by The Watchtower Society to that organization but has retained a voting proxy for those shares. Accordingly, in Notes (3) and (4) above, beneficial ownership of the 5,257,900 shares registered in the name of Rand Energy Group Inc. has been attributed to The Watchtower Society and Mr. McCann. We believe it would be misleading and not provide clear disclosure to list as beneficial owners in the table the other entities and persons discussed in this paragraph, although a strict reading of Rule 13d-3 under the Securities Exchange Act of 1934 might require each such entity and person to be listed in the beneficial ownership table."

    These documents were compiled by Thomson Financial for filing with the SEC. I wonder what the penalties for knowingly filing incorrect information with the SEC might be, particularly if the fraudulent filings were made to evade taxes, as with a "gift" to a religious organization. I wonder if the WTS cares if their devotees get in legal trouble while the reputation of the WTS is buffed to a brilliant shine?

    Edited by - Nathan Natas on 27 November 2002 1:8:10

  • VM44
    VM44

    Were any dividends ever paid to the Watchtower? --VM44

  • zev
    zev

    bluesbrother:

    as someone who was involved wih the uncovering of the u.n. affair, please let me tell you how important it is to those seeking the "truth" of matters like this, to have scans of the document posted.

    i'd like to offer you this, seeing as how you don't have a scanner.

    make a copy of the letter. black out information thats personal, and would give you away. fax it to me. i'll scan and post it for you.

    my email is open, and i'll be at owork untill 2200 hours your time.i'll send my fax number via email to you, if you want to do that.

    zev

    of the "lets go get 'em klass"

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