Bob Duggan

Scientologist Grant Cardone to Open a Non-Accredited Investment Fund Controlled by FCC Rules: What Could Possibly Go Wrong?

Cardone.Fund

By Jeffrey Augustine

Elena Cardone posted this on Facebook. She convinced Grant to open a non-accredited fund for friends and family.  Elena mentions that this all per FCC rules.

Memo to Elena: The Federal Communications Commission does not regulate securities. What you meant to say was the SEC as in the Securities & Exchange Commission. This sort of mistake does not inspire confidence in potential investors. Report to Cramming and clear up this misunderstood so that your potential investors don’t get jittery. Financial terms are very precise and must be kept that way, particularly as they relate the Federal regulatory agencies.

A “non-accredited investor” is defined as:

An investor who does not meet the net worth requirements for an accredited investor under the Securities & Exchange Commission’s Regulation D. A non-accredited individual investor is one who has a net worth of less than $1 million (including spouse) and who earned less than $200,000 annually ($300,000 with spouse) in the last two years.

When a company raises private equity for an investment, such as a new company or a hedge fund, it is able to receive unlimited investments from accredited investors. On the other hand, Regulation D stipulates only 35 non-accredited investors are allowed to invest money into a private placement.

Grant and Elena Cardone are looking for 35 non-accredited investors. Why? Grant’s website says he has $450 million invested in apartment complexes. In another place he claims close to a billion dollars. Given these numbers, why would Cardone be looking for non-accredited investors from among family and friends? The portfolio of properties shown on his website should easily attract accredited investors with serious money, particularly given the attractiveness of apartment rental units as more people become unable to afford to purchase homes due to the growing income inequality in America. This is a Scientology-related matter worth keeping an eye on.

I’m not a hater Grant. I enjoy watching you and Elena work. Besides, now that Bob Duggan is off the Scientology radar, you have to step up and fill the billionaire vacuum in Scientology. Do it. I’ll even show you some support. I like your twin brother Gary too:

Scientologist Michael Holstein & The Panama Papers

Michael.Holstein

The image above is from 2007 and was published in a Scientology magazine I received in the US mail many years ago. I posted several photos of Sea Org members contained in the magazine at xenu.net in a thread entitled David Miscavige’s Other Golden Boys.

According to this image above, Scientologist Michael Holstein was a European businessman who joined the Sea Org. Holstein was appointed the Solo NOTs Director of Processing at Flag. This is an extremely high pressure position in which one gets yelled at constantly by seniors for improved stars.

The Scientology Money Project is researching Mr. Holstein as his name appears along with that of Scientology billionaire Bob Duggan in the Panama Papers. In the relational map below, Michael Holstein is listed as a shareholder of a company called Genuine First Aid International. Also shown is Iraqi Scientologist Ali Shawkat who, along with his father Mudhar Shawkat — a former member of Parliament in Iraq — sold an Iraqi telecom company for $140,000,000 and moved the money out of Iraq. $14,000,000 of this money was invested in Scientologist Matt Feshbach’s Okyanos Heart Institute in The Bahamas. Feshbach sold, or otherwise transferred the company’s assets depending upon the different versions of changes of ownership we uncovered, and is no longer associated with Okyanos. Ali Shawkat also donated $5,000,000 to the IAS.

The scope of our research project is to examine where Michael Holstein fits into Bob Duggan’s financial empire. The diagram shows Duggan as a shareholder and Director of Genuine First Aid International — a company that has connections Amman, Jordan. Yet another Panama Papers diagram shows Robert Duggan to be a shareholder of a company called Spang CM Ltd. This diagram shows additional connections to the Cayman Islands and the Appleby Trust:

Michael Holstein is shown as the CEO of Genuine First Aid International of Fujian, China:

The connections between Duggan, Spang, Genuine First Aid International, and China are shown in the Panama Papers:

We learn at LinkedIn that Michael Holstein was apparently moved from his position as CEO of Genuine First Aid International in China to Operations Manager and transferred to Tampa:

What year did Michael Holstein leave the Sea Org and become part of what appears to be a “Scientology Money Club” that spans the globe? The locations of Scientology-owned businesses and offshore assets include, but are not limited to the following countries:

China
The Cayman Islands
Amman, Jordan
Venezuela
Iraq
United States
Canada
The Bahamas
The United Kingdom
Colombia
Taiwan

Michael Holstein’s Scientology Completions are published online:

Billionaire Bob Duggan, the Panama Papers, and the Scientology Money Club

The Scientology Money Project did an article recently on the US Bankruptcy Court’s denial of Matt and Kathy Feshbach’s attempt to discharge $3.8 million in back taxes via bankruptcy. This led me to do further research on Matt Feshbach’s Bahamian stem cell medical company called Okyanos Heart Institute. Please see my article on Matt Feshbach and Okyanos.

In the course of my research I found Feshbach and his business partner and fellow Scientology OT Manuel Vianna listed in the Paradise Papers:

BD.1

Curious as I am about Scientology and its sources of money, I checked into Okyanos and discovered its $14.2 million dollars in capitalization largely came from a Scientologist named Ali Shawkat, a man whose father is Mudhar Shawkat, a former member of the Iraqi parliament. The ICIJ Offshore Leaks Database page on Mudhar Shawkat states that Appleby Global — an offshore law firm that some have compared to the notorious Panamanian firm of Mossack Fonseca — set up the “Passion Group S.A.” for the Shawkat family. “S.A.” is a business term meaning “Society Anonymous.” A person who owns shares in an S.A. corporation can have those shares held by an offshore law firm. An S.A. grants a certain degree of anonymity.

There were concerns at Appleby about the Shawkat money and its Passion Group S.A., this according to an internal Appleby e-mail leaked by the Paradise Papers:

According to 2008 confidential emails, the lawyer representing Shawkat and his son, Ali, asked Appleby to hold in escrow about $140 million, the proceeds of the sale of the Shawkats’ shares in a joint venture with a Kuwaiti telecommunications company. The law firm refused that request but accepted them as clients later in 2008.

Appleby set up the Passion Group Trust for the benefit of Mudhar Shawkat’s family members and registered three affiliated companies in the British Virgin Islands in 2008 and 2011, according to the files. Shawkat was identified in the Appleby documents as an “additional settlor” (a person who creates and funds a trust) of the Passion Group Trust and as a shareholder of Passion Investment Ltd., the trust’s investment arm.

However, upon the incorporation of a not-for-profit entity, which was also a beneficiary of the trust, concerns about the Iraqi family’s reported association with Chalabi [Ahmed Chalabi, 1944-2015. A controversial Iraqi politician.] emerged at the law firm. “It is suspicious,” an Appleby employee wrote in an email, “that they are setting up a charitable company offshore [Passion for Change S.A.] for funds coming out of Iraq – there does not seem any benefit other than lack of accountability in doing so.”

A Paradise Papers page on Mudhar Shawkat shows the relationships for the Shawkat family and its Passion group; there are ties to Amman, Jordan and the British Virgin Islands:

BD.Passion.Group

In a development that could portend trouble for the Shawkat’s and all other Appleby clients, Appleby confirmed in October 2017 that it had been the victim of a massive computer hack. Some in financial circles are saying the hacked information from Appleby Global will amount to a Panama Papers II. In November 2017 Appleby released a less than reassuring statement to its clients:

We wish to apologise to our clients and to our colleagues for the difficulties which have arisen from this incident. We remain committed to working with each and every client to talk to them about what has happened so that they can understand its impact on them and in order to support them with their own reporting requirements.

I note in passing that when your offshore legal firm tells you that it will help you understand the impact of it being hacked and will support you with your “reporting requirements” this is not a good thing, particularly if one has not self-reported.

Ali Shawkat and his wife Noor donated $5 million to the IAS. This was covered in a 2014 article by Tony Ortega at the Underground Bunker.

BD.2
Ali and Noor Shawkat receiving their IAS trophy for donating $5,000,000

Things were intriguing at this point so I called upon my erstwhile colleague Dr. Jeff Wasel. As Jeff and I learned from the Okyanos website, Ali Shawkat’s Passion Group invested money in Feshbach’s stem cell company:

FREEPORT, The Bahamas, March 18, 2014 – Okyanos Cell Therapy, whose mission it is to bring a new standard of care and a better quality of life to patients with coronary artery disease (CAD) using adult stem cell therapy, announced today it has raised $8.9 million in its Series B offering. Passion Group founder Ali Shawkat led the round and is a visionary entrepreneur-investor with success in a diverse set of industries including cellular services, telecom, media and healthcare.

Shawkat’s investment in Feshbach’s Okyanos is borne out by the Panama Papers’ mention that the Shawkat family invested in two medical companies:

In the following months, in 2009, the leaked files show that the Shawkats transferred more than $30 million to the family trust and one of its affiliated companies, some of which was converted into shares. Board meeting minutes of Passion Investment Ltd. chaired by Shawkat’s son show that from 2013 to 2016, the company has invested in two medical companies and in an Iraqi dealership for Peugeot cars.

On a side note to this story, Freewinds Captain Mike Napier’s son Sean Napier appears on the Okyanos website as the Director of IT & Operations:

Former US Ambassador to the Bahamas John Rood was brought in by Matt Feshbach to serve as a Director at Okyanos Holdings Co LLC. Because the Bahamian government had to pass a law allowing Okyanos to operate, Former Ambassador Rood’s contacts were undoubtedly invaluable. On a related note, John Rood is the Chairman of the Vestcor Companies Inc. This firm invests in multifamily dwellings. Scientology OT8 Grant Cardone’s firm Cardone Acquisitions follows the same business model as Rood’s Vestcor Companies Inc. This raises the question: Was Cardone introduced to John Rood via Matt Feshbach? If so, was Cardone inspired to get into investing in apartment buildings by seeing Rood’s success?

I found three UCC filings on Okyanos Operating Company Ltd. A “UCC filing” is an instrument that allows a lender to secure its interest on equipment for which they loaned money to a debtor to purchase. UCC’s are routinely used where a company borrows money to purchase expensive office equipment, phone systems, computer systems, medical equipment, etc. In the event of a default on the loan, the UCC protects the lender as it prevents the debtor from selling the equipment. The UCC also allows the lender to take physical possession of the equipment if the firm goes bankrupt. The UCC gives the lender first priority over other creditors in a bankruptcy.

The three UCC’s filed on Okyanos were filed by Prince’s Gate LLC of Santa Monica. A quick check shows Prince’s Gate LLC to be an entity owned by EarthLink founder and Scientologist Sky Dayton:

BD.8

According to news reports, Black Beret Life Sciences of Houston acquired Okyanos in a leveraged buyout in July 2017. This begs the question: Why would BBLS need to use an LBO to acquire an insolvent company? BBLS has cash. Indeed, in January 2017 Affigen announced a $17 million Series A led by Black Beret Life Sciences.

Genuine First Aid International Ltd

In the map below of the Shawkat offshore money we see a company with the innocuous name of Genuine First Aid International Ltd. A search of the Paradise Papers shows that Robert “Billionaire Bob” Duggan and Ali Shawkat to be shareholders and directors of Genuine First Aid International Ltd.:


Another Panama Papers diagram shows the relationship of Robert “Bob” Duggan with the Shawkat’s; Amman, Jordan; Beirut, Lebanon; and the British Virgin Islands via Duggan’s ties to Genuine First Aid International Ltd:

BD.5

What is Genuine First Aid International Ltd.? It is a company registered in the British Virgin Islands and based in Fujian, China. The company’s Chairman is a Danish Scientology OT8 named Michael Holstein. His Scientology Completions page is extensive:

Michael Holstein’s LinkedIn page leads to dietary supplements, vitamins, diabetes supplements, etc:

Michael.Holstein

Another Panama Papers diagram shows Ali Shawkat to be a director of Genuine First Aid International Ltd:

Yet another Panama Papers diagram shows Robert Duggan to be a shareholder of a company called Spang CM Ltd:

A more micro Panama Papers diagram shows a tighter Duggan relationship to Spang and Genuine First Aid International Ltd:

BD.9
While Spang CM Ltd. is registered in the Cayman Islands (tax identification number: 139726), the company is a Chinese manufacturing firm:

BD.Spang

The Scientology Money Club Investigation, as Dr. Wasel and I are calling it, will take a look into the intertwining  world of wealthy Scientologists and their money. We are not alleging anything untoward whatsoever. Rather, we are examining linkages amongst Scientology whales who donate big money to the IAS. That these relationships have been found in the Panama and Paradise papers is part of what Dr. Wasel and I will discuss in an upcoming podcast.

Dr. Wasel’s comments on offshore corporations:

So why go offshore? Well first, “offshore” has many connotations, and can denote both legal and illegal financial behavior. There are legitimate reasons for high net worth individuals to maintain offshore companies, trusts, and other “vehicles”, mainly to lessen one’s tax obligation or to ensure privacy in sensitive, though legal financial matters.

Other reasons include political instability or corruption in their home country, or the registration of expensive assets such as planes and boats, as well as financing the associated insurance costs. Lawful tax avoidance involves organizing one’s financial affairs to legally minimize the amount of tax to be paid, versus tax evasion, which involves hiding one’s assets altogether, from the responsible reporting authorities.

Large corporations such as Apple, Google, and others use favorable tax regimes in Ireland as an example of tax mitigation/avoidance, as do individuals in the Caribbean, Liechtenstein, Switzerland, and other “tax havens”.  These “Offshore Financial Centers” (OFCs) exist primarily to provide anonymity and tax regimes favorable to the investor and not the regulator; where the illegality occurs, is when an individual or entity fails to declare an interest in an OFC to their respective nation’s tax authority or financial regulator. The use of OFCs is significant; while verifiable data is difficult to collect, it’s estimated that some 20 percent of all private wealth is located in OFC’s, as is an estimated 75 percent of the captive insurance market.

The nexus of the OFC phenomenon is geography. In other words, “sunny places for shady people” to some extent, though the post-9/11 regulatory environment has drastically altered this perception. Indeed, The Cayman Islands, Bermuda, and other former “light touch” OFC locales, now often exceed US and EU anti-money laundering and tax reporting requirements.

That said, many significant loopholes exist in the structure of OFC’s, loopholes that, in a variety of ways, are structurally resistant to regulation, and still offer the less-than scrupulous individual or entity plenty of ways to create private banks, phantom or “shell companies” and fake trusts, and to hide money and other assets. One such option within this structure is the use of “bearer shares”, a term often reflected in the associated charts in this story. Implicit in the many OFCs available to the “sophisticated” investor, is the International Business Company, (IBC), which is a corporate vehicle that can be owned anonymously, and does not do business in the country where it’s domiciled (has physical residence), and usually located in an extremely “light touch” regulatory and tax locale. An IBC can be created online in less than an hour, involves minimal regulatory and ownership filings, and has limited liability. It’s unrestricted in the type of business it can entertain, and an IBC can consist of multiple sub-entities, complicating any future audit trail.

The main ownership stake in an IBC is a bearer share, which simply means that if you physically own the shares, you own the company, yet nowhere is it recorded that you physically hold them. In essence, the IBC is a truly “portable company”, allowing one to schlep a veritable business empire in one’s briefcase.

Adding to the attractiveness of portability, is a lack of accountability, in that most IBC’s allow for “nominee” directors; that is, hired-hand “directors”, who are usually employees of the registering agent, say a corporate registration house in Curacao. Thus there is no “official” record of who owns the bearer shares, and therefore, the company’s beneficiaries, nor is there any direct owner – a responsible fiduciary –  that can be held responsible for the company’s actions. While a more thorough discussion of all the permutations of this murky financial world is beyond the remit of this article, suffice to say, it’s the concepts of “plausible deniability” and anonymity, as well as the ability to hide one’s financial affairs,  that is the greatest lure to go offshore.
_____________________________________________________________________________________

Here is the Appleby Global document on the creation of the Shawkat’s Passion Group Trust. Hover over the document with your mouse to invoke the control panel at the bottom of the PDF:

Shawkat-2011-Passion-Group-Summary

US Bankruptcy Court Ruling: Scientologists Matt and Kathy Feshbach Cannot Discharge $3.8 Million in Income Taxes

Fessbachs

An excellent article in Forbes by Jay D. Adkisson concerns Scientologists Matt and Kathy Feshbach. Adkisson’s article was the feature subject of a recent column Tony Ortega’s Underground Bunker. The community commentary was fascinating.

Essentially, the US Bankruptcy Court refused to allow the Fessbach’s to discharge $3.8 million in their Chapter 7 bankruptcy.

In her 40 page ruling, US Bankruptcy Judge Catherine McEwen cited both the Fessbach’s refusal to curb their lavish spending and large donations to their church (Scientology) as among the reasons for refusing to discharge their substantial tax debt via bankruptcy.

In September 2008, the Fessbach’s made an Offer in Compromise (OIC) to the IRS to settle their 2001 tax debt of $3.6 million for $120,000, this to be made in payments over 48 months. The IRS declined the Fessbach’s unreasonable offer to settle for pennies on the dollar of the amount owed.

Judge McEwen wrote:

Feshbach.1
The Fessbach’s made “in excess of $21 million in income” and yet sought to discharge $3.8 million in taxes owed. The court remarked that the Feshbach’s clearly had the money to pay their tax debt but did not do so. The Feshbach’s tried to claim their lucrative income as “phantom income” that they never really had. The court rejected their line of argument in its ruling:

US-v-Feshbach-Memo-on-Dischargeability

Note: Hover over the document with your pointer to get the control panel to appear.

The Bankruptcy Court’s ruling stands in stark contrast to the Feshbach’s 2011 declaration in which they represented themselves as veritable paupers:

Feshbach-Declaration.2011

_______________________________________________________________________________________________

Keeping Up with Matt Feshbach.

Even during his Chapter 7 bankruptcy, Matt Feshbach was still promoting his “World Famous” Finance Seminar to his fellow Scientologists:


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In her 2017 ruling against the Feshbach’s, US Bankruptcy Court Judge Catherine Peek McEwen noted:

“…how does any portion of the Feshbachs’ half-million dollars-plus in charitable contributions aid them to repay their tax debt? If there’s an explanation, it wasn’t offered at trial. As a rule, it’s hard to imagine how giving money away would bolster an individual’s future income potential. And this case is no exception to that rule. The overwhelming majority of the Feshbachs’ charitable giving benefitted a church that happened to be one to which Mrs. Feshbach’s personal interests were directly tied. In fact, Mrs. Feshbach owned and operated her own mission, with the main purpose of “introduc[ing] people to what [her church’s religion] is.”Thus, it’s quite clear that there was no link at all between the hundreds of thousands of dollars that the Feshbachs donated to the church and Mr. Feshbach’s earnings, but rather, there was a direct link between the charitable spending and Mrs. Feshbach’s religious pursuits. The Court does not admonish the Feshbachs (or any other debtors) for supporting worthy charitable causes. However, “[i]f individuals choose to donate part of their income to charity, whether religious or secular, they must adjust their expenditures accordingly to live within the confines of their available income.”

Judge McEwen continued:

More to the point, the Feshbachs could have immediately reduced their tax debt by more than $1 million by simply canceling their personal vacations and giving up the rented house in Aspen. They could have saved a similar amount by dramatically reducing their unreasonable clothing allowance and foregoing charitable giving altogether. These are just a few of the available examples that prove the superficiality of their claimed inability to pay.

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Like Richie Acunto before them, Matt and Kathy Feshbach become bankrupt Scientologists. Richie Acunto’s $10 million dollar IAS trophy ignominiously wound up for sale on eBay. That money could have helped Acunto rescue his company Survival Insurance. See Tony Ortega’s excellent article The Scientologist who wouldn’t fly: The rise and fall of insurance mogul Richie Acunto. Likewise, the millions the Feshbach’s gave Scientology over the decades could have paid their income tax liability.

Matt Feshbach, the one time master of the trading world with his brothers and their “shorting against the box” strategy was ultimately financially ruined because he simply did not pay his income taxes when he had the money to do so. Feshbach claimed changes in the tax code were responsible but the court established that despite these changes Feshbach had the income to pay his tax bill.

The US Bankruptcy Court noted that the Feshbach’s could have paid their entire tax debt had they simply curbed their excessive and lavish spending on a luxury lifestyle. The Feshbach’s thought they could ultimately beat the IRS by going bankrupt. However, they lost that bet when the court found that the couple had, “willfully attempted to evade their tax debt within the meaning of 11 U.S.C. § 523(a)(1)(C).

Judge Catherine Peek McEwen will enter a separate final judgment in favor of the United States in this proceeding. Matt and Kathy Feshbach will have to pay the $3.8 million in back taxes they owe the IRS.

In the conclusion to her ruling, Judge Catherine Peek McEwen said something that both the Feshbach’s and the Church of Scientology itself should take heed of but never will:

Sometimes, as with the facts in this proceeding, it is tragically foolish to hold firm to a spend-money-to-make-money conviction. The Feshbachs made poor spending decisions, continually leading a life of excess in the face of serious, known financial obstacles. At all times, their primary concern should have been reducing their substantial tax debt. But as their immoderate spending choices show, they were far more focused on living in the lap of luxury. They would have been wise to heed the proverb which cautions that enough is better than too much. As it is, however, the Feshbachs’ misjudgment ultimately cost them complete relief. Having concluded that the Feshbachs willfully attempted to evade their tax debt within the meaning of 11 U.S.C. § 523(a)(1)(C), the Court rules that such debt is nondischargeable. Accordingly, the Court will enter a separate final judgment in favor of the United States in this proceeding.

“Enough is better than too much” is a lesson that the rapacious Church of Scientology will never learn. Wanting too much of everything — money, breaking up families, punishing people, using child labor and so many other things — is one of the main reasons why Scientology is collapsing.

The Church of Scientology Increasingly Embraces Big Pharmaceutical Companies

CCHR.JAWThe Church of Scientology is infamous for its rabid attacks on Psychiatry and what it calls “Big Pharma.” In the tweet above we see Scientologist and OSA operative John Alex Wood going straight for the jugular by candidly and publicly admitting that the true purpose of Scientology’s lunatic Citizens Commission on Human Rights (CCHR) is, “the total ANNIHILATION of psychiatry world wide.”

Scientology is opposed to psychiatric drugs in particular and all pharmaceuticals in general. This opposition is driven by Scientology’s belief that drugs “mask the symptoms” of the underlying spiritual distress that is actually responsible for illnesses.

Scientology does not believe that mental illness exists. Scientology utterly dismisses Psychiatry as a fraudulent science and claims that “psych drugs” are part of a money-making racket designed to enslave and destroy people by drugging them into a crippled and helpless state solely for the profit of drug companies.

Scientology’s alternative to Western medicine is its own $360,000+ program of systematically exorcising one’s body thetans. However, as Scientology considers its OT levels a “trade secret” — an odd term for a so-called religion — Scientology cannot publicly discuss its OT levels. Thus, Scientology is left in an odd position of negating Psychiatry while being completely unable to discuss its trade secrets which purport to hold the key to solving all of the existential problems of human life.

Given this context, it was quite surprising for me to see Tony Ortega’s story today in which the Scientology father-daughter team of Bernard and Meghan Fialkoff opened the NASDAQ trading session. I say this because the Fialkoff’s are prominent leaders in Scientology’s front group the Foundation for a Drug-Free World. The Fialkoff’s are front and center of this NASDAQ PR photo:

NasdaqGroup

The Scientology Cult takes the NASDAQ open by the the Fialkoff’s as a big PR win. However, 325 major pharmaceutical firms are listed on the NASDAQ. Many of these firms make Psychiatric medications. Over against this, the Fialkoff’s are advocating that people live drug free lives and belong to a Cult whose avowed purpose is to destroy Psychiatry and Psychiatry drugs.

Bernard and Meghan Fialkoff opening the NASDAQ trading day is like fervent anti-gun advocates opening a gun show. That Scientology Freedom of Medal winners Meghan and Bernard Fialkoff must literally go into a Big Pharma stronghold like NASDAQ in order to get Scientology some PR drips with both irony and Xanax.

This is exactly like Scientology billionaire Bob Duggan who donated $72 million in Big Pharma stock (AbbVie Inc) to his private foundation and earmarked the dividends of ~$2.9 million per year to fund Scientology and its phony front groups.

Here are 50 of 325 major pharmaceutical firms listed on NASDAQ. This is what Meghan and Bernard Fialkoff essentially endorsed today when they opened NASDAQ trading:

AC Immune SAACIU
ACADIA Pharmaceuticals Inc.ACAD
Acasti Pharma, Inc.ACST
AcelRx Pharmaceuticals, Inc.ACRX
Achaogen, Inc.AKAO
Achillion Pharmaceuticals, Inc.ACHN
Aclaris Therapeutics, Inc.ACRS
Acura Pharmaceuticals, Inc.ACUR
Adamas Pharmaceuticals, Inc.ADMS
Adamis Pharmaceuticals CorporationADMP
Aduro Biotech, Inc.ADRO
Advanced Accelerator Applications S.A.AAAP
Advaxis, Inc.ADXS
Aeglea BioTherapeutics, Inc.AGLE
AEterna Zentaris Inc.AEZS
Affimed N.V.AFMD
Agile Therapeutics, Inc.AGRX
Agios Pharmaceuticals, Inc.AGIO
Aimmune Therapeutics, Inc.AIMT
Akari Therapeutics PlcAKTX
Akebia Therapeutics, Inc.AKBA
Akorn, Inc.AKRX
Albireo Pharma, Inc.ALBO
Alcobra Ltd.ADHD
Alder BioPharmaceuticals, Inc.ALDR
Aldeyra Therapeutics, Inc.ALDX
Alexion Pharmaceuticals, Inc.ALXN
Alimera Sciences, Inc.ALIM
Alkermes plcALKS
Alnylam Pharmaceuticals, Inc.ALNY
AMAG Pharmaceuticals, Inc.AMAG
Amarin Corporation plcAMRN
Amicus Therapeutics, Inc.FOLD
Amphastar Pharmaceuticals, Inc.AMPH
ANI Pharmaceuticals, Inc.ANIP
Anthera Pharmaceuticals, Inc.ANTH
Apricus Biosciences, Inc.APRI
Aptevo Therapeutics Inc.APVO
Aquinox Pharmaceuticals, Inc.AQXP
Aralez Pharmaceuticals Inc.ARLZ
Aratana Therapeutics, Inc.PETX
Arbutus Biopharma CorporationABUS
Ardelyx, Inc.ARDX
Arena Pharmaceuticals, Inc.ARNA
Argos Therapeutics, Inc.ARGS
ArQule, Inc.ARQL
Array BioPharma Inc.ARRY
Arrowhead Pharmaceuticals, Inc.ARWR
Ascendis Pharma A/SASND

Scientology Billionaire Couple Bob and Trish Duggan Help Fund Scientology with 1,000,000 Shares of a Drug Company

DugganInvictus2-e1417143742557

IRS tax forms show that the Scientology billionaire power couple  Bob and Trish Duggan  placed 1,000,000 shares of AbbVie Inc., a pharmaceutical manufacturer, into their private foundation in December 2015. At that time, AbbVie shares  were trading in the $59.00 range. This gave their foundation a fair market value of $59,240,000.

As of July 15, 2017, AbbVie shares closed at $73.11, thus giving the Bob and Trish Duggan  Foundation an asset value of $73,110,000. The dividends paid by AbbVie will be donated to Scientology churches and social betterment groups per the terms of the Duggan’s Foundation.

As this Scientology Money Project research was first exclusively reported on Tony Ortega’s Underground Bunker, AbbVie makes Humira, the best-selling pharmaceutical drug in the world. In an ultimate irony, then, the Church of Scientology, a group that attacks “Big Pharma” as an evil, will profit each year into perpetuity on the dividends from a major pharmaceutical company in Big Pharma.

The PDF for the Duggan Foundation can be opened here: Bob.Trish.duggan.Foundation

Bob.Trish