The Senior Pastor of Kingsway International Christian Centre (KICC) in London, Pastor Matthew Ashimolowo, has said former trustees of the church and not himself, invested $5 million in a Ponzi scheme.
Ashimolowo, in a statement signed on his behalf by his Chief Executive Officer, Dipo Oluyomi and Chief Operating Officer, James McGlashan, confirmed that the investment was made over seven years ago.
The church said that the trustees of the church made the decision to invest in the scheme, but denied Ashimolowo had anything to do with it.
The statement read: “Our attention has been drawn to a headline in a publication about the involvement of the church in a 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 in fact he 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 the KICC.
“As you are aware from the Charities Commission’s report, the decision to invest was solely that of the UK 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 Mathew Ashimolowo.”