Quote:
Originally Posted by Drake
Since you were a treasurer in the local church do venture to educate us of the wisdom of the financial actions the elders in Columbus took...... assuming you know.
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Since Ohio punted about the financial mismanagement of the Titus appointed proxy elders in Columbus then I will offer these facts.
The saints in the church in Columbus stood on the ground of oneness since 1977. Two properties were acquired and developed by the saints , one on East 15th Ave. and another added in the early eighties that of Sinclair Rd. The saints contributed their lives, livelihoods, and their finances. It is also commendable that the church in Columbus managed their properties very well exercising fiscal prudence and generous giving and loans. That is what went well.
Shortly after Titus Chu appointed 3 elders in Columbus that all changed.
The elders not only took out high interest loans to pay off the low or no interest loans ( from saints) but took out a high interest loan including tens of thousands above the payoff amount. And, no one should be surprised about this, starting in 2002 through 2006 these elders diverted over $140,000 to Titus Chus work WITHOUT the saints knowledge. So, in short they took a fiscally stable situation and turned it into a fiscally risky one even jeopardizing the assets of the church in Columbus.
Drake