|Costing cutting at district headquarters is our priority.|
January 19, 2015 Dear Members of the Alberta-British Columbia District, Two weeks ago Church Extension Fund Investors began to receive letters informing them that the Fund faced a sufficient cash shortage and that its assets were less than its obligations to its investors.
The Fund was frozen and no further withdrawals would be honoured.
A source says:
"The President of LC-C (Bugbe) says many, many people will lose thousands and thousands of dollars. The court is going to appoint a Chief Restructuring Officer -- so much for a District President."