Home arrow Management arrow David Miscavige – World’s Youngest Billionaire – Time for Accounting  
Saturday, 22 December 2012
David Miscavige – World’s Youngest Billionaire – Time for Accounting PDF Print E-mail

David Miscavige – World’s Youngest Billionaire – Time for Accounting


If one follows many points that I and countless others have made on here and elsewhere, they can clearly see that David Miscavige (“DM”) runs complete control over the many and varied corporations, associations, trusts and other legal fictions of organized scientology.

This is despite many statements he has made to the contrary in courts and elsewhere.

To just list one of many different examples that has not already been used many times before, I could point out that “the church” has said things like the following in one of its submissions to the IRS on the subject of control and use of “church funds”:

“The ecclesiastical body within the hierarchical church's Finance Network with primary responsibility for managing central reserves is the Reserves Committee. At present, each member of the Reserves Committee is a full-time staff member of CSI holding a high ecclesiastical position. The purpose of the Reserves Committee is to ensure that central reserves are kept safe, expended only for purposes of the religion, and are increased to assure continued expansion of the church and broader defense and dissemination of the religion……..

The Reserves Committee itself consists of five CSI staff personnel — WDC Chairman, WDC Reserves, International Finance Director, SOR Chief, and Reserves Board Finance Officer.

The specific responsibilities and functions of each of these members; are:

1. WDC Chairman. WDC Chairman, CSI's most senior ecclesiastical official, chairs the Watchdog Committee ("WDC"), which oversees the ecclesiastical management structure of the Church. WDC Chairman serves as the chief executive officer of WDC.

2. WDC Reserves. WDC Reserves is CSI's highest ecclesiastical authority with respect to central reserves. WDC Reserves is the member of WDC who oversees the finance network and reserves system of the religion. WDC Reserves has the responsibility of keeping WDC informed as to all financial matters of the Church.

3. International Finance Director. ……

4. Sea Org Reserves Chief. The Sea Org Reserves Chief ("SOR Chief") …….

5. Reserves Flag Banking Officer……..

Ideally, proposals for expenditures from central reserves will be prepared long before the expenditure is necessary so they can be incorporated into the Finance Network's annual budget projections for large, known expenses and into proposed projects for the upcoming year. These long-term budget projections are used to establish a stable base against which more detailed budgets are developed for each month and week of the ensuing year, as well as for coordinating with management on planning and execution. However, since the need for funding from central reserves can arise at any time during the year, organizations often submit their proposals for reserves expenditures when the need arises. Regardless of when submitted, all proposals are processed by the Reserves Committee under the same procedure, as outlined above.

The Reserves Committee does not have unfettered control over reserves accounts, however, if a proposal involves any large, unusual expenditure for a particular church or trust, it must be approved by the Board of Directors or Trustees of the church or trust concerned, but only after ecclesiastical approval by management and financial approval by WDC and the Reserves Committee”. (emphasis added by myself)

OK, there are a lot of things interesting about just this relatively small quote with respect to control of the funds. For example if you know any of it to be false (local Board of Directors and Trustees having to approve these expenditures, which is ludicrous in scientology as the locals have no control of this, etc.) , you could supply that information as part of the Factnet questionnaire mentioned below.

It’s kind of “cute” how they use such terms as “ecclesiastical body”, “ecclesiastical management structure” and “hierarchical church” in submissions when they want the religious cloaking and protection afforded by US law but will in a heartbeat claim no central control and hide behind corporate veils when matters of potential legal liability surface. When they do this, they leave a trail of provable lies.

But I point this out to show another angle of how they lie about DM’s control of the funds. They “point out” to the IRS that there are these five staff members within CSI on the “Reserves Committee” apparently some how controlling the usage of these millions of dollars. But they neglect to point out things like the fact that DM has busted, beaten, sent to hard labor and/or otherwise abused most if not all of those folks and ran many of their duties himself. Interesting omission!

What DM has is the ultimate control of “the church’s” many millions, if not now billions of dollars scattered throughout the world.

Many of us know how he brutally seized control of first all “the church” entities and their accounts and then did the same with Hubbard’s fortune after Hubbard died.

Countless people have been beaten, financially destroyed and/or otherwise horribly abused as part of this takeover.

And countless lies have been made in courts, to the IRS, other government bodies and the like to cover this all up.

Much of this has been covered many times in many posts so I will not be elaborating on this area specifically as part of this post.

That said, what I would like to focus on in this post is financial accountability and something that might be called “socially conscious investing” for all that money controlled by DM.

What of the monies might have gone to DM’s personal use and/or to his friends is another matter. That is covered in the above link about the Factnet questionnaire.

What I am talking about now is how are those funds really invested and is that done in a socially conscious way as you might expect a church to invest.

Other churches of which I am aware have oversight committees or other people or bodies who oversee their investments to try to ensure they are as wise as possible and that they are socially conscious investments that are consistent with the stated aims and purposes of the church.

For example most churches would thus not want to invest in activities they would consider harmful or contrary to the public good such as currency speculation that might lead to the collapse of local economies or forms of short selling that depend on destroying companies and lost jobs so that you might gain a high financial return.

Even Hubbard spoke out against such types of manipulation he considered was taken by the likes of many he considered to be his enemies such as “the world bank” in their “unscrupulous” actions of money speculation and such.

So is DM engaging in such socially beneficial investments on behalf of his “church” as he would like the world to believe? Are their investment activities compatible with the glowing PR they send out all over the world about how wonderful they are?

In what have they really been investing, besides real property, in the past 25 years under DM?

Well, the public does not know and there are ZERO oversight committees or persons checking on or having any real say in what DM does with the money of his “church”.

That in and of itself should be a red flag. Especially as I am understanding information now coming in from those once connected such as DM demanding some 25% return on investments and, to get same, some highly speculative, high risk and non socially conscious investing being done.

This investigation is in an early stage but red flags are flying here and I would highly recommend that anyone newly out with information of a public interest on this matter share it as part of the Factnet inquiry.

How very odd that so very many millions invested by what promotes itself as a “church”, yet is solely controlled by one man, who has made much personal financial gain from same and who has a reputation of lies, abuse and the like has no real oversight whatsoever.

Original Link

< Prev   Next >
Disclaimer: Dianetics and Scientology are trademarks of the Religious Technology Center (RTC.)
These pages and their author are not connected with the Church of Scientology or RTC, or any other organization residing under their corporate umbrella

Copyright © 2008 Exscn.net. All rights reserved.