Quote:
Originally Posted by Freedom
My understanding is that Daystar debts weren't necessarily all paid back (only some), but everything else was "settled". I take that to mean that a lot of investors decided to forgive Lee either by their own doing or as a result of pressure.
Actually, in Philip Lin's book, he says "Brother Lee had cleared all debts". Now what exactly does cleared mean? I suspect it's meant to give the reader the impression that everything was paid back. The real questions are how many were actually paid back? How many forgave Lee by their own choosing? How many were pressured or forced to forgive Lee? The last question is the most important. If anyone was pressured to forgive Lee's debts even though they didn't want to, that is indeed a problem.
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There seems to be a wide discrepancy between their official statements and the actual facts. Some have stated that only those who screamed
loud and long were repaid. Max Rapoport rose in prominence because he was the one willing to go church to church twisting arms into submission.
Here's what bothered me the most, which I posted some time ago ...
Quote:
Originally Posted by Ohio
In the "little banker" scheme, saints entrusted LSM with their savings, in lieu of a local chartered credit union. There was a level of trust which the flock of God had placed in the elders and the ministry. These moneys were recorded and forwarded by the LC's to LSM, which then transferred (illegally?) the moneys out of LSM accounts to other accounts (like the church in Dallas!) in order to pay Daystar business debts. Thus LSM was temporarily "broke," and requested the saints to consider their deposits as "offerings," by signing a forgiveness document. This is way different than investing in Daystar directly!
Here's my point: When LSM later became more "profitable," why did they not go back and reimburse with interest all of those initial depositors.
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