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| Bhakti Caru Swami |
By: BCS Bankruptcy Appeal Committee
Dear Maharajas and Prabhus, Please accept our humble obeisances. All glories to Srila Prabhupada.
There
have been reports on Internet websites regarding questions of His
Holiness Bhakti Caru Swami engaging in business activity. It is well
known that he had engaged in the manufacture of yogi bars and his
cinematic endeavors with the video series on Srila Prabhupada. However,
this is not the limit of his business efforts. Some years ago, he
purchased a Canadian aerial survey company, McPharr Geosurveys, in
Toronto, Canada.
This
business involved many devotees in its management including but not
limited to Bhagavan dasa and Dayarama Prabhu from Mayapura.
Unfortunately, throughout its history, the company never fared well.
McPharr
Geosurveys engaged in aerial surveys searching out mineral deposits.
This is done by sensitive machinery and senors being flown over specific
geographical areas gleaning data which is later analyzed as to the
area's existing mineral content.
The
business is technical and the investment required is high. Various
industry members have told members of the Committee that novices getting
involved in such a sophisticated and expensive industry is ill-advised.
However, the amounts of money churned is high and therefore
intoxicating. As a result, His Holiness Bhakti Caru Swami found the
attraction irresistible.
McPharr
ran into constant problems in both technical and financial challenges.
The company leased planes to assist their survey work, which led
Ambarisa dasa, an investor in the company, to purchase a plane to do
their flying. A plane was purchased and a new company, Skyvision
Exploration Inc. was started and held title to the plane.
It
is said that the money used was earmarked for the Mayapura temple
project and Ambarisa was convinced to have the money be put to work to
produce more profit for the temple.
To
cut a long story short, His Holiness' company fell on bad times.
McPharr was forced into bankruptcy in order to escape their creditors
and a new company was started, AMG India, to continue on the work of
McPharr.
In the end, as of 2010, Bhakti Caru Maharaja's debts totaled just under eleven million (11,000,000.00) to nearly 150 creditors.
The
Maharaja solicited loans from many disciples to purchase a property in
Ujjain, India. Taking this as collateral, the Bank of India issued a
line of credit to AMG for approximately five million dollars. Millions
more were also borrowed from disciples for the McPharr enterprise.
According
to industry sources, AMG is also now in the red for about eight million
dollars. As a result of the approximate six million dollars in loans
from disciples, the near eleven million dollars in debts listed above
and the large debt owed by AMG, His Holiness has dug himself a very deep
well of debt.
There
has been further action to raise loans from other disciples in the hope
of paying down these debts. Unfortunately, to date, these efforts have
fallen short and the debts to the devotees will not be repaid.
So,
in the mood of trying to help the Maharaja out of his business mess,
with this article, we would like to open up the canvassing effort to the
international community of devotees. BCS has preached actively
throughout the world and it is likely that many devotees will
enthusiastically chip in to help out the poor swami. Why should the
whole responsibility of repaying these debts fall on the shoulders of
his disciples. Especially, when some of them have been so generous in
the first place.
In this regard, a committee has been formed to solicit funds to assist Bhakti Caru Swami's bankruptcy.
Our
committee's goal is to assist the Maharaja with his financial
difficulties so that he can realign his focus one hundred percent back
to preaching, as he is obviously a better preacher than businessman.
This
effort has not sought the endorsement of BCS, though he has been
informed of its inception, as we realize that the Maharaja’s humility
will not allow him to accept any financial assistance.
So,
please help, by making a pledge to help put to rest the debts of the
devotees and hopefully those of the two bankruptcies. We will follow up
on all pledges and guarantee that 100% of the funds will go to retire
BCS's business debts. Nothing will be taken for administrative fees,
etc., other than bank fees, if necessary.
