The Watchtower Society Hedge Fund
by TJ Curioso 22 Replies latest watchtower scandals
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Calebs Airplane
So where is the high roller hedge fund conference this year?? -
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Vidiot
Anybody know if they still own stock in Phillip-Morris and Rand-Cam? -
Earnest
There is now a new JW Ireland-based asset venture, according to the Irish Independent, 28 August. -
Earnest
Deleted.
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BoogerMan
@ Earnest - Was this a fake story?
Ireland no longer has a Branch -
https://www.irishtimes.com/business/commercial-property/jehovah-s-witness-to-sell-irish-hq-1.615365
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Earnest
BoogerMan, I don't believe it's fake. I checked out the journalist's LinkedIn profile and his website and they give no reason to think he's a faker.
As you rightly point out, the Irish Bethel was put up for sale by Mason Owen Lyons in 2011, but it seems that it was never sold, as Google Maps from June 2023 shows the JW.org sign still at the gate, and it is no longer advertised by Mason Owen Lyons.
The three companies the journalist mentions - Mina Asset Management Ltd, Mina Treasury Services Ltd and Lepta Payment Solutions Ltd - all have their registered address as "Watch Tower House, Newcastle, Wicklow, AF63 RF61".
Mina Treasury Services Ltd was set up on 24th July 2024 and has the following directors - David Petrus (Bethel, Warwick, USA), Joachim Szewczyk (Bethel, Selters, Germany), Michael White (Galway, Ireland), Stephen Charles Hale Symonds (Bethel, Chelmsford, UK).
Mina Asset Management Ltd was set up on 13th August 2024 and has the following directors - Nathan Boccaccio (Kilkenny, Ireland), Nolan Vengethasamy (Bethel, Warwick, USA), Philip Lofts (UBS executive, New Canaan, USA), Stuart Bull (Bethel, Denham Court, Australia), Tobias Broweleit (Bethel, Warwick, USA), Vassilios Pappas (MD of Assenagon Asset Management, Gruenwald, Germany).
Lepta Payment Solutions Ltd was set up on 16th August 2024 and has the following directors - Francesco Tirelli (Egham, Surrey, UK) and Stuart Bull (Bethel, Denham Court, Australia).
Check out the article for the banking credentials of these directors.
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NotFormer
"...the Irish Bethel was put up for sale by Mason Owen Lyons in 2011, but it seems that it was never sold, as Google Maps from June 2023 shows the JW.org sign still at the gate, and it is no longer advertised by Mason Owen Lyons."
That raises many questions and possibilities, if it didn't sell*. Did they initially try to sell in a difficult market and then hang on to the property in the hope of a better price in the future? It surely must have appreciated in value by now, so why are they hanging on to it? Are they still occupying and using it in some fashion? Was it so purpose-built for WT use that it makes no sense for any sane investor to buy it**?
*How does one find out who owns property in Ireland? The JW.org sign doesn't prove much; the new owner may never gotten around to removing it. Perhaps asking the agent if it sold?
**That they want to sell it for the value of land and buildings, but anyone buying it would probably want to buy it for land value only, because they'd need to knock down the buildings?
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Earnest
NotFormer, if the property was sold then the three new companies formed in the last two months would not have this property (Watch Tower House, Newcastle, Wicklow, AF63 RF61) as their registered address.
Further, the Watchtower, Bible and Tract Society of Ireland, which last filed accounts in April 2024, still has this as their registered address.