The CBC Reports on LCC Securities Allegations

More CEF/DIL coverage…this time from the CBC.

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3 thoughts on “The CBC Reports on LCC Securities Allegations

  1. Rev. Robert Clifford

    I tried to post this Comment twice on the Canadian Lutheran Online – on the article by Synod President Teuscher for Canada Day, but the Comment was not posted.

    The Comments by Dennis Kendel & ANO about the ASC Notice of Hearing (on the article by ABC District President Schaeffer) have all been deleted, & that article no longer accepts Comments.

    I phoned Synod Office & left a message for Communications Manager, Christopher Pelletier, asking about the above issues.

    A friend in Calgary has told me that the Alberta Securities Commission office is more than willing to talk to anyone about this ABC/CEF/DIL issue; they will talk & answer questions – the contact information is on the Notice of Hearing document.

    The following is what I tried to post on the Canadian Lutheran Online:

    In the second of the 2 prayers above, we pray for “civil government … legislators & judges … in the role [God] has permitted them to assume.” That would include the Alberta Securities Commission.

    In a Canadian Press article on the ASC Notice of Hearing regarding the ABC District CEF, Rev. Pres. Teuscher is quoted as saying, “The Ontario Lutheran district has such a fund that has operated without problems, but it is in the process of being retired, he said.”

    Depositors in the East District Church Extension Fund (both individuals & congregations) would like clarification on that statement. As well, the opening line of the CP article made a similar general statement.

    An internet search will show that this Canadian Press article has been disseminated across the country by many national media outlets including Facebook.

    I don’t recall the retirement of the East District Church Extension Fund being discussed at Convention or being part of the synod-wide Restructuring. Will the Synod office please clarify the comments made by President Teuscher, so that depositors in the East District Church Extension Fund can know when & how they can expect to receive their deposits back with interest?

    If the above quote is accurate, Is the President of the East District or the Chairman of the East District Church Extension Fund Committee aware that the ED-CEF is in the process of being retired?

    • Great questions. I’ll submit an interview request by email and see if we can get clarification.

    • ANO

      One item of note is that Bugbee made it explicitly clear that Synod couldn’t mandate the Districts to do anything. I presume that includes whether or not their CEF operations continue or are wound up.

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