Interesting .. thanks German JW
W T S RESPONSE TO "RAND CAM" ALLEGAT...
by BluesBrother 52 Replies latest watchtower scandals
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Bangalore
Bump.
Bangalore
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Band on the Run
I promise to look up current holdings when I visit a law library this coming week. The library has extensive databases and access to a librarian that I do not have on my home computer. As I noted before, the letter qualifies the corporations not holding stock to "corporations that the GB uses in the kingdom interest." This is a major qualification. Since they do not state the actual corporations, I can only assume they are not precluding corporations used for strictly business reasons that are not tied to "kingdom interest." They do not define "kindgdodm interest." Such a letter would not satisfy the SEC or any judge. To the untrained eye, the qualification does not pop out. The lawyer who wrote is was very sloppy if no stock holdings are present.
Rather than issue the letter, the SEC should have been notified to amend the filing. The SEC has jurisdiction. Indeed, any share holders of Rand Cam or any other affiliated or merged company should have been put on notice that the WT holdings were nonexistent. Not reporting to the SEC might very well constitute stock fraud. Individual JWs may have a passing interest but the SEC has jurisdiction. If there were no holdings, a lawyer should have been in touch and provide documentation to the SEC immediately. They are described as nonvoting shares. Voting or nonvoting, according to the SEC, who must be believed before the WTBTS ( of course if the SEC were n otified, there would be no conflict), ownership apparently exists.
I wonder if I telephoned the legal department in a neutral manner to ask for clarification what would happen. Probably no one will talk to me.