Wednesday 29th March, 2017
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Ashimolowo Refutes allegation over involvement in $5m Fraud That Hit KICC

Ashimolowo Refutes allegation over involvement in $5m Fraud That Hit KICC

Pastor Matthew Ashimolowo has distanced himself from the loss of $5m suffered by the Kingsway International Christian Center, KICC.
The media had reported how Pastor Ashimolowo’s Britain based KICC was hit by a Ponzi scheme that has made the church lose a whopping $4.8 million.
It was learnt that the Ponzi scheme was the brainchild of former Premier League soccer player, Richard Rufus, who used to be a defender for Charlton Athletic. He had promised investors along with the church a return on investment as high as 55 per cent per annum.
This is contained in the findings of an inquiry published 14 December by the Charity Commission for England and Wales.
However, in reaction to the report via a statement signed by Dipo Oluyomi and James McGlashan, Ashimolowo distanced himself from the incident, saying he had no hand in it.
“The attention of Pastor Matthew Ashimolowo and KICC has been drawn to publication in the media with the headline: “Pastor Matthew Ashimolowo loses $5million to Ponzi Scheme.”
“We wish to state that the headline was unfortunate and misleading and has caused damage to the reputation of Pastor Ashimolowo. The sensational headline suggests that Pastor Matthew Ashimolowo lost $5million when INFACT HE DID NOT and did not make the decision to invest.
“Pastor Matthew Ashimolowo is the Senior Pastor of KICC and not her trustee and has never been a trustee of KICC.
“As you are aware from the Charities Commission’s report, the decision to invest was solely that of the U.K trustees without any involvement of Pastor Matthew Ashimolowo. Importantly as the report states, it is the trustees who have the responsibility for investing Charity Funds and NOT PASTOR MATTHEW ASHIMOLOWO.
“The investment referred to were made by former trustees on behalf of the Charity over SEVEN AND HALF YEARS AGO. They believed they were acting in the best interest of the Charity and they did not and have not benefited personally.
“Their actions were totally independent and were not influenced in any way by Pastor Matthew Ashimolowo.
“Now that we have appraised the publisher(s) and author(s) of the report of these facts, we strongly encourage you to set the record straight by publishing this rejoinder immediately.
“KICC is a Charity whose main aim is to advance the Christian religion in the U.K. and around the world as well as provide local communities with a great deal of counseling and support, including educational, bereavement and prayer support.
“Pastor Matthew Ashimolowo preaches around the world on behalf of KICC, spreading the word, touching lives both home and abroad, raising Champions and the profile of KICC.”
Thank you.
Signed:
DIPO OLUYOMI –
CHIEF EXECUTIVE OFFICER, JAMES McGLASHAN –
CHIEF OPERATING OFFFICER, For KICC.

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