Sons want accounting of how Schwan Foundation lost hundreds of millions

In 2013, the Schwans learned that the foundation had lost as much as $600 million in off-shore real estate ventures.

“These offshore investments consisted of hundreds of millions of dollars in loans and equity investments, made with foundation assets, to develop a Four Seasons Resort at Emerald Bay, Great Exuma, Bahamas; a Ritz Carlton Hotel at Seven Mile Beach, Grand Cayman, Cayman Islands; and a Four Seasons Resort at Peninsula Papagayo, Costa Rica,” according to their brief filed with the supreme court. “The trustees funded these offshore investments through an elaborate network of over 100 holding companies, subsidiaries, partnerships and other related organizations with legal domiciles in the British Virgin Islands, the Bahamas, Costa Rica, the Cayman Islands and Panama.”

http://www.argusleader.com/story/news/2016/04/18/sons-want-accounting-how-schwan-foundation-lost-hundreds-millions/83188868/

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The United States Revokes Scientology’s Tax-Exempt Status

This article is false and has been passed around the net. 

In a unanimous decision by the Supreme Court today, the eight justices ruled in favor of revoking the Church of Scientology’s tax-exempt status in the United States. Under the ruling, Scientology will still be able to operate as a business but no longer as a non-profit religious organization.

http://abcnews.com.co/united-states-revokes-scientologys-tax-exempt-status/

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