Briefly noted

Two top officials of the International Church of the Foursquare Gospel resigned in March after the church lost $14 million to two investment firms that have been alleged to be fraudulent. The resignations of the president, Paul Risser, and the corporate treasurer, Brent Morgan, were accepted during an annual cabinet meeting in Los Angeles, the denomination announced. A spokesman said Risser had been criticized by some denominational leaders for entrusting money from a church foundation to IPIC International Inc. of Ontario and Financial Advisory Consultants Inc. of Lake Forest, California. Federal authorities have described the firms as Ponzi schemes—which paid early investors with money obtained from later ones—and shut the firms down.

 

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