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Popular Nigerian pastor Ashimolowo’s church under investigation over alleged fraud

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- A City of London police spokesman
confirmed the launch of criminal
investigations into the investment of the
church in a Ponzi scheme ran by former
Charlton footballer Richard Rufus
- Pastor Matthew Ashimolowo was not
directly involved in the investment which
was carried out by trustees who were later
accused of not investigating Rufus' claims
properly
- KICC says it believed that the trustees
made a grave mistake but acted in the good
interest of the church
- No arrests have been made yet

The police in London, United Kingdom has
kicked off fraud investigations into alleged
mismanagement of finances at Kingsway
International Christian Centre (KICC), the
church of popular Nigerian pastor Matthew
Ashimolowo.
The UK Guardian reports that the criminal
investigation by the City of London police
followed a report of the Charity Commission
which found KICC lost most of £5m invested
by the former Charlton footballer Richard
Rufus, a Ponzi scheme operator.

“Detectives from City of London police’s fraud
teams are investigating,” an unnamed police
spokesman confirmed, although no arrests
have been made.
The Guardian reports that Charity
Commission accused the church’s former
trustees who invested in Rufus’ Ponzi scheme
of “ not exercise(ing) sufficient care” when
they gave Rufus the church’s money.
The Commission said they failed to check if
Rufus had any investment qualifications or
experience and gave little thought to the
extraordinarily high rate of return the former
Premier League footballer was promising yet
concluded that his “personal guarantee makes
this as safe an investment as any”.

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