Incredible. Hot on the heels of the multi-million dollar fraud funding Brahma Kumari businesses and projects in India ... Dutch Brahma Kumaris are reported by the Netherlands' equivalent of the FInancial Times in € 27 million fraud.
At least, bit by bit ... or rather Rupee by Rupee ... the Brahma Kumaris name is becoming synonymous with fraudulent activities on ever continent. (Original document and approximate translation below, if anyone can help me with it or more info, please do. It's not clear to me but the name Harold K. comes up. Does anyone know who it is?).
I suppose when you believe the End of the World is coming to save you from prison and all you have to do is "Remember Baba" to clear away your bad karma ... anything is possible.
And what do we hear from Baba's divine Angels ... the 108 highest souls of all humanity (their leaders) ... about all this?
Ah, yes ... that's the "Power of Silence" folks. Or "Omertà" as the other mafia calls it.
Targeting the elderly and inexperienced ... seduced by beautiful brochures ... yup, all sounds very BKWSU to me.
The question is ... for how long were both individuals sitting in the Brahma Kumari centre together, one knowing that they were defrauding the other.
And where was "Baba's Protection" in all this?
At least, bit by bit ... or rather Rupee by Rupee ... the Brahma Kumaris name is becoming synonymous with fraudulent activities on ever continent. (Original document and approximate translation below, if anyone can help me with it or more info, please do. It's not clear to me but the name Harold K. comes up. Does anyone know who it is?).
I suppose when you believe the End of the World is coming to save you from prison and all you have to do is "Remember Baba" to clear away your bad karma ... anything is possible.
And what do we hear from Baba's divine Angels ... the 108 highest souls of all humanity (their leaders) ... about all this?
Ah, yes ... that's the "Power of Silence" folks. Or "Omertà" as the other mafia calls it.
Targeting the elderly and inexperienced ... seduced by beautiful brochures ... yup, all sounds very BKWSU to me.
The question is ... for how long were both individuals sitting in the Brahma Kumari centre together, one knowing that they were defrauding the other.
And where was "Baba's Protection" in all this?
"Bonds VSM would be a great investment'
Eva Rooijers, October 2014
More than € 27 million in bonds sold Solid Realty Corporation (VSM) up to 581 investors. Money which would largely be invested in Dutch real estate, promised the prospectus. In reality, VSM was only had about € 10.8 million in business premises and offices according to the reading of the Public Prosecutor (OM). € 12 million of the investment would disappear. The defendants argue that this sum was to keep the business going. Against six suspects, prosecutors demanded punishments ranging from four years imprisonment to community service sentences for crimes such as fraud, money laundering and forgery. The in Almelo court decided in a October 17 statement.
Stroke Victim
A large part of investors have lost some of their investment, or maybe even all of it. Many of them were elderly, inexperienced in the art of investing and not have too much power. They were seduced by beautiful brochures and promotional references to intermediaries or the suspects themselves. One victim, a "Jan" aged 62 from Naaldwijk (the victim does not want his name in the newspaper because he fears being threatened by the suspects) worked in office supplies when he was hit by a severe stroke in 1994. He tried to work a few more years, but end up claiming DIsability Allowances in 2001. In 2003, his wife also became incapacitated and their income dropped 25%, so he looked for opportunities to boost income.
Brahma Kumaris
Around that time he attend courses of Brahma Kumaris World Spiritual University where he met the former financial director of VSM and one of the suspects in the fraud. "I went there to find your peace", says Jan. "I came from a lousy time. After my stroke I could not walk any time, not talking, not seeing ... The Brahma Kumaris say students learn to be honest and open. It is a movement that is intended to bring out the best in people".
You can drive to it
The two get on well and Jan trusts the BK follower who recommends investing in VSM. "He's cam to his at home to explain the plan. VSM bonds would be a great investment. "The monthly return was between 4.5% and 9%, and the money was only invested in Dutch real estate". "He did it very well" John recalls. "You can drive to it, see it." In addition, the prospectus bears the stamp of approval from the AFM. The BK told him that his money can be retrieved at any time.
Jan and his wife did not have much in the bank to invest with. However, they have a house they bought in 1978 and which has appreciated considerably in value, so taking a second mortgage on the house he invested in VSM. "€ 75,000 in In 2006, another € 20,000 in 2007.
BK disappeared
In 2007 and 2008 Jan neatly gets paid a monthly return that is above 4.5%. But in 2009 the payments stop. John looks at the site of VSM and notice that the name of the BK had disappeared, leaving the company. Jan called many times to VSM and after much insistence, he still gets paid what returns. "Calm down. It's all good", Jan is told by employees of VSM.
He even had a new brochure mailed by the real estate company. "We strike while the iron is hot. Are you in?" VSM asks investors. The recession is over according to the CBS, said the leaflet and therefore VSM smells opportunities. "The name of the game is currently the purchase prices are under pressure. This means that we can now conveniently buy real estate. "Who are loading at least € 10,000, gets a luxurious weekend of pampering for two gift.
Via via
In 2009, the phone ringing at VSM. Not with investors who want to put money in again, but investors who wonder why no return is being paid anymore. The company is now collapsing and came in sight of De Nederlandsche Bank.
VSM has insufficient equity more. A lot of money was transferred to a parent company Apex through VSM. Apex and through the example of the various defendants, according to the OM. According to the suspects all the money that was spent to Apex actually delivered to work and stuff. Anyway, investors are a big part of their lost investment.
Financial Advisor
Like Jan, there are many more investors, says Ruud Nägele (70), secretary of the Foundation which represents the interests of aggrieved bondholders. "I am such an investor who had no business sense. Therefore, I had a financial advisor who advised us strongly to this product. He assured me that it was a very safe investment and that I could ask the money back prematurely".
Nägele put in € 45,000. That would be within ten years to become € 54,000. Return he did not receive. "I wanted the money after ten years to be paid out once, so my wife on her sixtieth could retire. She is in fact thirteen years younger than me; so we would have some time to enjoy our old age together. "Now working his wife until her 67 th. "Then I am 80. My joy will be no more to come."