WTB&TS has invested $40,000,000 in November 2007 in a Hedge fund located in the Cayman Islands, a tax haven
Tax Free havens specialize in Captive Insurance Companies- Watchtower is certain to be doing this scam.
They have millions of dollars so they self-insure with a company that they themselves own .
They tell the poor slobs at the kingdumb hall that they need to pay for insurance every year, so tens of thousands of congregations pay millions of dollars year after year and the Watchtower gives the impression they are forwarding the premiums to an insurance company nobody has ever heard of.
In fact the yearly millions go straight into one of their own bank accounts which appears to be an insurance company with only one "customer" - themselves.
The advantage of off-shore is secrecy. Give some of your cult friends a credit card based on the off-shore account and no-one in another country will ever know as the paper work all goes back to the off-shore phony bank.
- all that tax free money,wow
- Now you know where all the Kingdum Hall contributions go. What about helping out those people in need, isn't that what Jebus commanded a Christian to do?
Why bother putting it in the Caymans if they are tax free in the States, and most other countries?
Am i missing something?
- If there is any truth at all to this allegation, does anyone believe the governing body are the real ones in charge of this organization? Someone somewhere is a real financial genius if they can actually get the money out free and clear. It sure as hell aint those governing body idiots. While we chirp on about the meaning of an overlapping generation this kind of money just walks out the door?? Amazing!
- This is extremely clever, gotta hand it to someone. But wow, 40 mill is more money than the average person can get their head around, it's just off to the Cayman's, and yet while everyone is talking about generations, amazing, can't put it into words. WOW!!
Is this information available to the public? Does the WTBTS really have $500,000,000.00?? Inquiring minds want to know!!
- Someone a lot more eloquent than I should turn such evidence over to the likes of 60 minutes for a thorough review of their tax exempt status.