100 Huntley Street hosts suspended during Ponzi scheme probe
Trevor Trevor
http://www.cbc.ca/arts/tv/story/2009/07/02/ponzi-scheme-mainse.html
Ron and Reynold Mainse have been relieved of their duties as hosts of
Christian program 100 Huntley Street after allegedly becoming involved
in a $14.1-million Ponzi scheme.
Crossroads Christian Communications, the Canadian ministry behind 100
Huntley Street, has issued a statement saying ministry funds were not
used in the scheme and that the brothers had made a private
investment.
Crossroads founder David Mainse remains on the show, but his two sons
were suspended in early June after it was learned their investments
were being investigated by the U.S. Security Exchange Commission.
They had invested money with Gordon Driver, a neighbour of Ron Mainse
in Freelton, Ont., whose company is called Axcess Automation.
The SEC alleges Driver was running a Ponzi scheme that drew $14.1
million US from more than 100 Canadian and U.S. investors.
Driver was promising weekly returns on investment as high as five per
cent, based on special software he said he developed to trade futures.
The Ontario Securities Commission has ordered Driver and Axcess
Automation to cease all trading and the SEC is seeking to seize its
assets.
According to SEC court filings, Driver testified that he had worked
for 100 Huntley Street as a teenager.
In a May 14 filing in California, the SEC accuses Ron and Reynold
Mainse, who were hosts on 100 Huntley Street, of helping Driver
recruit new investors.
However, Doug McKenzie, chief executive of Crossroads, says the
Mainses made a "personal and private" investment in Axcess and did not
draw from the ministry's pool of donors.
"Ron and Reynold Mainse will not be appearing on any Crossroads
programming or otherwise represent Crossroads for the time being as
they focus their energies on certain matters in their personal lives,"
the Crossroads board said in a statement.
"They've stepped down from their duties until such time as the board
of directors have complete understanding of all the issues related to
a matter that they were involved in outside of the ministry here at
Crossroads," the statement said.
100 Huntley Street, a daily inspirational TV program, was launched in
1977 by Crossroads founder and evangelical minister David Mainse.
Mark J.
On Jul 2, 11:36 pm, Trevor Trevor <altst...@gmail.com> wrote:
> 100 Huntley Street hosts suspended during Ponzi scheme probe
>
> http://www.cbc.ca/arts/tv/story/2009/07/02/ponzi-scheme-mainse.html
assume that they can take American donations). I seem to remember
that the title is the address of their studio in Toronto (and Wiki
says they're now at a monument David Mainse built to himself in
Burlington, ON--boy, these televangelists sure love to build monuments
to themselves).
The only thing that pops out to me now is the fact that they used a
cheesy character generator (well, all character generators were cheesy
in the 70s) that seems to be uniquely Canadian--the only other show I
remember seeing the fonts on was "SCTV."
John Edwards
On Jul 2, 11:36 pm, Trevor Trevor <altst...@gmail.com> wrote:This show does air on some Jesus stations/channels in the U.S. (I
> 100 Huntley Street hosts suspended during Ponzi scheme probe
>
> http://www.cbc.ca/arts/tv/story/2009/07/02/ponzi-scheme-mainse.html
assume that they can take American donations). I seem to remember
that the title is the address of their studio in Toronto (and Wiki
says they're now at a monument David Mainse built to himself in
Burlington, ON--boy, these televangelists sure love to build monuments
to themselves).
YACS. The old studio has long since been torn down. The monument is conveniently located where two freeways split, meaning that anyone passing west of Burlington gets to see it.
--
John Edwards
I used to put quotes here.