MMM like Ponzi Scheme Gulps KICC’s $4.8m | Inquiry Finds Church Trustees Guilty of Mismanagement
Pastor Matthew Ashimolowo, Founder & Senior Pastor of KICC Kingsway International Christian Centre, a 12,000-member megachurch in Britain headed by Nigerian Pastor, Mathew Ashimolowo, lost $4.8 million to a Ponzi scheme after trustees carelessly invested money in it. The scam was the brainchild of former Premier League soccer player, Richard Rufus. Rufus was a defender for Charlton Athletic. He promised investors along with the church a return as high as 55 per cent. (more…)