How the WTS hides its cash.....you may find this interesting

Let me explain a little about what I do each day.....

I work for a company that arranges Trusts in the Cook Islands, Turks & Caicos, Panama, etc.  I know that Blondie is against what I am about to say, but I do not just believe that the WTS have a variety of Trusts in various jurisdictions around the world......I am absolutely positive they do.
 
I personally look after 14 Trusts.  3 of these Trusts are under the umbrella of non-profit organisations, like the WTS.  One of the clients in my portfolio is larger than the WTS.
   
The Trusts we setup are administered by us and the beneficiaries (the real owners) remain anonymous, to the point where I do not even know the identities of the real owners; that information is a little above my pay grade.

If the WTS haven't got at least 10 Trusts active at the moment, I would take a serious look at who their Financial Advisors are.  Oh, and before you say that they have got dubs working as their Financial Advisors, trust me on this, they don’t.  You’ll see why in a second.

Trusts are simple accounts.  Smaller nations (such as the Cook Islands, Turks & Caicos, etc.) allow individuals, companies, etc. to open Trusts.  They don’t allow these Trusts to be unbreakable, but that’s where the loopholes take on an entire new meaning.

I won't go into the stringent dynamics of how Trusts are created, as that would take all day.  I've given a brief description (below) of how I advise my clients to do exactly what the WTS is doing.

How would I siphon funds from the WTS?  Simple really.  We all say that the WTS owns other companies (Real Estate, IT, Arms, etc.).  All they need to do is make sure that the beneficial owners of these subsidiary companies are not on the board of the non-profit side of the business (WTS).  Each month, these companies invoice the WTS for Management & Administration costs.  Oh, did I state that we advise our clients that it’s best to make sure that all subsidiary companies (owned by them) invoicing their non-profit organisation, should be registered in an offshore location, such as Panama, Cyprus, The Seychelles, BVI, especially if the monthly invoices total more than $30,000USD?  These subsidiaries are called IBC’s (International Business Companies/Corporations).  The invoiced amounts need to be below $90,000USD per month, so as not to arouse suspicion, although we advise our clients how to exceed the 90K mark without any problems if that is the clients requirement.

In turn, we advise another company to be created, normally a company on Nevis Island.  The Nevis LLC (Limited Liability Company/Corporation) bills the IBC companies.  Being registered on the Island of Nevis, the reason of the invoice doesn’t matter at all.
 
The funds taken in by the Nevis LLC are then distributed to the various Trusts.
 
And that, my good friends, is how it’s done.

Therefore, in a nutshell, I would presume all international non-profit organisations own Trusts. 

If any of you are interested in setting up a Trust yourselves, go for the Cook Islands Trust Plan.  Even the Hague Convention can't touch a Cook Island Trust.  They are practically impenetrable.

Kind Regards

C Scienza

PS.  If you actually believe that the WTS does not distribute it's funds in the way I proposed, then I am sorry, but the only word that comes to mind, is naïve.  Also, everything I have explained above is legal.  No laws are broken.  Corporate Service companies like mine, know how to bend the law right up until it serves our purpose.  I assure you that the WTS uses several companies like the one I work for.

Nothing would surprise me anymore, even if the WTS did go down the trust route.

Noticed at conventions how they always want checks payable to "Watch Tower" (two words).  Figure if they're using trusts like that, it leads back to the Watch Tower (two words) division of their operations.  Interesting take on it.  I would say it's a good bet you're right.

--Christopher

I think you've given a good description of how it could be done.

What I don't understand is:

• What evidence do you have to support your (apparent) belief they are hiding money?  I suspect they're pretty unethical, but I suspect they're mostly stockpiling it.  (Why do I suspect that?  See below.)
• What would be the motive?  Major NYC newspapers have printed the fact that they are worth a billion, and that's going to increase significantly once they sell Crooklyn...and that will be public knowledge too.  They are apparently not violating any state or federal laws, so there is no reason to do illegal things to launder money.  People are legally allowed to give as much as they want to charities.

Sd-7, I always wondered why they stress, two words Watch Tower. I never thought it should be a big deal, the bank figures it out if someone spells my name wrong, so the words are together, hmmmmmmm. 

GD, it would interesting if there was a way to find out if this were true.

I'm part of the 'nothing would surpise me class' as well.

Since Russells time, they have taken the stance not to pay their fair share of anything, and doing it 'religiously'.

Wether it was taxes, or even proper postage, they would have avoided paying it.

What's worse, is not wanting to pay for volunteers fair share retirement and medical, trying tp palm that off on the the governments.

So the attitude to cheat is built in and systemic.

Now to stash money abroad? The GB is very stupid when it comes to money matters, but they have many advisers like attorney's who could pull a stunt like that and keep it hidden from the GB or perhaps fooling them, like we are saving this for a rainy day(see persecution). But now we are really getting off into conspiracy stuff, no?

Oh oh...Blondie's gonna get madatchoo.

Speak for yourself, red dot.

Don't forget, the Governing Body does not run any of the corporations.  They have been marginalized for nearly a decade.  They get the glory and religious power, not the money. 

I'm fairly ignorant on this trust issue.  What's the point of setting up a trust in a foreign country?  To avoid taxes? 

Rebel8....

As I stated in my post, they are not doing anything illegal by storing their funds in Trusts.  The fact is that we are all human.  I cannot believe that there are powers that be in the organisation that haven't set themselves up for life.  As you'll read a bit further down in this post, I don't view what I say as a belief, but a professional opinion.

It's my opinion that an organisation that is worth what that much (approximately $1 Billion USD) has a team of individuals that are living the very very good life on the back of all the donations.

You see, if the end was nigh, why would the organisation setup subsidiary companies that deal in Real Estate, Paper, etc.?  If Jehovah was about to bring the mass genocide upon this Earth, would they need to be looking at how to invest, so as to make sure their non-profit organisation would be a going concern in years to come?

In my opinion (and it's my professional opinion), the real top big-wigs in the organisation, do not actually believe a thing that the GB teach.  They keep this wagon going because it is what it is....a money-making machine.

Think about it.  What a beautiful business model they've got going on.  The take in donations and with the funds they've collected, they purchase (or build) Real Estate, fund other projects, etc.  They have millions of volunteers that work for free, making sure that the organisation remains a going concern. 

I don't want to brag, but I'm good at what I do.  As a Corporate Services Auditor, it's my job to review the history of the company before providing our services to them.  We call this "Due Diligence".  Over the past few months, I've done my own due diligence on the organisation.  The way they have evolved over the years, proves to me what I stated above, that in my professional opinion, there are those at the very top that do not believe an iota of what they preach, but instead, manage the organisation as an international conglomerate.

Hope that helps.

Carlos Scienza

Works for me.......

Thank you for sharing insight!

The only reason most jws do what is right is if they think they might be caught; and even some gamble and go ahead anyway.

Hey! God Delusion said you were against what he said, not moi.

But you said how I would react.  We don't know each other that well, red dot.

Mad Sweeney posted "I'm fairly ignorant on this trust issue.  What's the point of setting up a trust in a foreign country?  To avoid taxes?"

......Hi Mad Sweeney.

Our clients open Trusts for many reasons.  We have had clients that wanted to hide funds from their spouse.  But mostly, the main reason is for tax issues.  Trusts formed in jurisdictions like The Seychelles, The Cook Islands, BVI, etc. are tax havens.  Trusts are not taxed if they are managed by an agent that is a resident in the country where the Trust is established.  Also, because our clients use companies like the one I work for, their details are not on the Trust.  Therefore, when the going gets tough, they can store vast sums of cash in Trusts and only their agents (companies like mine) know about it.

The secondary reason is mostly due to legal duress reasons.  For example, we have had clients that are expecting their company to be put into liquidation by the local government.  In situations like this, they open Trusts (normally in The Cook Islands as Trusts are practically untouchable if setup properly in that jurisdiction), store their cash in them and then sit back and wait for for the liquidators to come along and wind up the company.  This normally affects Partnerships, as LLC's are covered by the capital that was invested in them when the company was formed.

My two cents....

C Scienza

I am convinced of this:

Somebody somewhere is getting VERY rich.  He is not a Witless in fact a non-believer, and sits in his mansion enjoying the high life.

I bet Booze Rutherford set things up for his family.

HB

God_Delusion - Great post. It would be helpful if this could be verified, but I imagine the point of trusts is that they make this hard to verify.

Rebel 8 - the main reason I see the WTS entering into such an arrangement is to protect their assets. The GB would hold a fear of governments seizing their assets in an attempt to close them down, and the commercial system trying to sue them over pedophilia, blood transfusions and shunning. They have good precedence for this with the French Government changing their tax status, and the 2008 payments regarding pedophilia - backed up by a good helping of persecution complex.

Thanks for the info, God_Delusion.

A few points:

It is fairly obvious that the WTS has become more and more corporatized over the years, especially since the late 90s and early 00s. So no, it would not surprise me that there is a team of people using the organization as a money machine.

So the question is, who are the benficiaries? My inclination is that if this is going on, it's the current officers of the WTS and maybe a few of the GB members.

there was interesting experience once I read where GB members are staying in 5star resorts and fly first class.

http://www.freeminds.org/organization/post-franz/scandal-in-malta.html

It would be nice if someone talked to Raymond Franz about this. Maybe he can shed some "new light" on this?