respectful_observer: So, does the WT have $40 million in this fund and the fund has a value of $500 million including investments from others? Or does the WT have $500 million in this fund and $40 million is in the Caymans?
WTB&TS has invested $40,000,000 in November 2007 in a Hedge fund located in the Cayman Islands, a tax haven
by sammy 43 Replies latest watchtower scandals
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drewcoul
respectful_observer: So, does the WT have $40 million in this fund and the fund has a value of $500 million including investments from others? Or does the WT have $500 million in this fund and $40 million is in the Caymans? -
Saintbertholdt
drewcoul,
$500 million worth of 'tickets' to ride on the funds train could have been bought.
The WTBTS bought a $40 million block of tickets in 2007.
They were the first ones in line, but it also seems as if they were the only ones in line (No other sec notices of sales were filed as far as I can see).
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Saintbertholdt
BTW sammy,
How the hell did you stumble onto this?
The EDGAR search system does not give full text searches except for the last four years.
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Vidiot
Forty. F**king. Million.
I'd suspected for a while, but now we know.
x
In their defense, the Caymans are rather "paradisiac" (in more ways than one). :smirk:
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Mad Irishman
I'm not really sure how this document can be verified. -
OrphanCrow
Mad Irishman: I'm not really sure how this document can be verified.
Follow the link. It is a government document. Please click on the link.
The document is from the official website : Securities and Exchange Commission:
http://www.sec.gov/Archives/edgar/vprr/07/9999999997-07-048801If that isn't enough "verification", then I don't know what to say...other than...what would convince you? The document looks pretty authentic to me. If it wasn't, I would think that the US Securities and Exchange Commission could be in a bit of trouble.
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StarTrekAngel
I don't doubt the document if it comes from the SEC but what does it really mean? Isn't it understood that once the money is in Cayman, it can go virtually anywhere? -
Vidiot
It's more the fact that banks in the Caymans have a reputation of being tax shelters for mobsters, crooked businessmen, and politicians.
Which begs the question, if the WTS really was a "legitimate" organization, why feel the need to squirrel money away in places like that?
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Saintbertholdt
"Which begs the question, if the WTS really was a "legitimate" organization, why feel the need to squirrel money away in places like that?"
Unless it was the mob who actually bought the 40 million seat and the hedge fund is crooked.
They used the WTBTS as a fake and thought, no one would ever dream of looking into the Watchtowers finances. They're Bible punchers after all.
lol...
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Vidiot
Honetly, I don't think the mob is that creative.