disclosure: According to a notice of hearing, church members invested in a program meant to let them earn interest on loans to other churches for improvement projects, but the majority of those funds were placed in a high-risk, loan-defaulting, speculative land development project without appropriate disclosure to investors, according to The Toronto Star. Brian Kehler, a member of Foothills Lutheran Church and a proxy for 14 investors, says while setting an ASC hearing date is a step forward, people are frustrated by the uncertainty. The ASC has alleged that the Alberta-British Columbia district of Lutheran Church Canada misled investors about a large-scale investment program. Madeline Smith / Star Metro The ASC has alleged that the Alberta-British Columbia district of Lutheran Church Canada misled investors about a large-scale investment program. DIL fund what their money was being used for and at what risk. Madeline Smith / Star Metro The ASC panel set May 13, 2019, as the start date for the hearing, which will last seven weeks.A notice of hearing says the church district didn't adequately inform investors in the Church Extension Fund CEF and the separate District Investments Ltd.
(news.financializer.com). As
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