Pastor Ashimolowo explains $5million Ponzi investment fraud, says he’s not involved

- Pastor Ashimolowo has denied the news circulating around that he invested in a Ponzi scheme

- The pastor said he was not in anyway involved in the decision to invest the church’s money in any capacity since he is not a trustee

- He also added that the investment referred to were made by former trustees on behalf of the Charity over seven years ago

Popular pastor and founder of the Kingsway International Christian Centre (KICC) Mathew Ashimolowo has debunked rumours circulating in the media that he lost $5million to a Ponzi scheme in the United Kingdom.

According to the popular pastor, he did not make any decision to invest the church money in any capacity because he is not a member of the trustee.

Ashimolowo in a press release signed by Dipo Oluyomi and James McGlashan did not deny that such investment took place; he however claimed that the decision to invest the church’s money was not his.

Recall that Pastor Ashimolowo's KICC was recently alleged to have invested $4.8million in a ponzi scheme owned by a former football Richard Rufus, who has now been declared bankrupt and also convicted of defrauding the church and others.

Read the full statement below

“The attention of Pastor Matthew Ashimolowo and KICC has been drawn to publication in the media with the headline: “Pastor Matthew Ashimolowo loses $5million to Ponzi Scheme.”

“We wish to state that the headline was unfortunate and misleading and has caused damage to the reputation of Pastor Ashimolowo. The sensational headline suggests that Pastor Matthew Ashimolowo lost $5million when INFACT HE DID NOT and did not make the decision to invest.

“Pastor Matthew Ashimolowo is the Senior Pastor of KICC and not her trustee and has never been a trustee of KICC.

“As you are aware from the Charities Commission’s report, the decision to invest was solely that of the U.K trustees without any involvement of Pastor Matthew Ashimolowo. Importantly as the report states, it is the trustees who have the responsibility for investing Charity Funds and NOT PASTOR MATTHEW ASHIMOLOWO.

The investment referred to were made by former trustees on behalf of the Charity over SEVEN AND HALF YEARS AGO. They believed they were acting in the best interest of the Charity and they did not and have not benefited personally.

“Their actions were totally independent and were not influenced in any way by Pastor Matthew Ashimolowo.

“Now that we have appraised the publisher(s) and author(s) of the report of these facts, we strongly encourage you to set the record straight by publishing this rejoinder immediately.

“KICC is a Charity whose main aim is to advance the Christian religion in the U.K. and around the world as well as provide local communities with a great deal of counseling and support, including educational, bereavement and prayer support.

“Pastor Matthew Ashimolowo preaches around the world on behalf of KICC, spreading the word, touching lives both home and abroad, raising Champions and the profile of KICC.”

Thank you.

Signed:

DIPO OLUYOMI –

CHIEF EXECUTIVE OFFICER, JAMES McGLASHAN –

CHIEF OPERATING OFFFICER, For KICC.