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翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Baptist Foundation of Arizona ： ウィキペディア英語版 Baptist Foundation of Arizona The Baptist Foundation of Arizona (BFA) was a Southern Baptist charity whose fraudulent behavior led to the largest collapse of a religious financial institution in U.S. history.〔(Baptist Foundation of Arizona's Financial Collapse )〕 The BFA was associated with the Arizona Southern Baptist Convention, which was affiliated with the national organization. When the BFA filed for bankruptcy in 1999, it had $530 million in liabilities as compared to a reported $70 million in assets.〔 ==History== The BFA was founded in 1948 and initially sought to provide a financial revenue for participants while supporting Baptist-motivated causes. In 1962, Pastor Glen Crotts became the organization's first president. Under his leadership, the organization held strict moral values. Its officers were forbidden from gambling and drinking alcohol. Twenty years later, Glen Crotts' son, William Pierre Crotts, became the organization's second president. The collapse of the BFA did not occur in a vacuum. In 1992, records indicated that the company had lost $3.2 million due to questionable transactions. The Reverend Ed Shaw suggested that the BFA "Explain the situation completely to investors; ask their forgiveness; let them know their gift of principal would help if they choose to give some or all of it."〔Sterling, Terry. (In the Name of the Father and the Son and the Wholly Owned Subsidiary ) ''Phoenix New Times''. May 22, 1997.〕 Instead the BFA decided to hide its debt and began a series of dubious activities. Under Bill Crotts, the organization diverted over $140 million to two former and one active (as of 1998) director. The organization did this through the use of over 63 different public and private organizations all directly affiliated with the BFA.〔Sterling, Terry. (The Moneychangers ) ''Phoenix New Times'', April 16, 1998〕 Each of these related companies had Bill Crotts and the BFA's chief attorney, Tom Grabinski, on their board.〔 Grabinski signed documents as an officer for both BFA and a subsidiary. When asked if a conflict of interest existed, the BFA indicated that both parties "had waived any conflicts of interest."〔 Since he was working for both companies, Grabinski was able to authorize questionable transactions. For example, on one day Grabinski attested to the value of a piece of property twice. The first time he attested to the value, he indicated that the property was worth $3.3 million. The second time, on the same day, he declared the same piece of property was valued at $960,000.〔Sterling, Terry. (A Shaky Foundation ) ''Phoenix New Times''. April 23, 1998.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Baptist Foundation of Arizona」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.