Deadbeat Cardinal Dolan Hid Assets with the Dead in Cemetery Trust

This is all old stuff and perhaps sour grapes and probably a federal crime if you could find a prosecutor with the balls, using R.I.C.O. laws, to challenge the creative bookkeeping of Timmy Dolan to hide assets with the dead in order to cheat child abuse victims out of just compensation for their suffering and ordeal of having been victims of the RCC's delusional (not of Jesus) Celibacy Sexual Mask practice.

http://ncronline.org/news/accountability/victims-caught-milwaukees-shell-game

Marek was referring to the Beneficial Interest in Cemetery Perpetual Care Trust, a pivotal issue in the proceedings.

NCR provided a copy of the hearing transcript to Jack Ruhl, a professor of accountancy at Western Michigan University who has done extensive research on diocesan financial statements. Ruhl is also a 1978 graduate of Worsham College of Mortuary Science in Wheeling, Ill., and was a licensed funeral director in Michigan for several years before earning his doctorate in accountancy at Case Western Reserve University in Cleveland.

Referring to the transcript, Ruhl told NCR: “When Marek says, ‘We don’t own the trust’, I would ask: Then why does the trust appear as an asset on the archdiocesan balance sheet? The definition of an asset is something that provides future economic benefit. When the archdiocese classified the [cemetery] trust account on their balance sheet as an asset, they acknowledged that the trust provides future benefit. The things we laypeople call assets -- our homes, cars, investment funds -- means that we own them, and to say otherwise in this case is misleading.”

On the 2007 archdiocesan balance sheet, Ruhl explained, the asset account with the largest balance, at $59.9 million, has a specific title: “Assets designated for future care of cemeteries and mausoleums, primarily cash and investments.”

In contrast, the 2007 balance sheet shows an asset account called “Beneficial Interest in Cemetery Perpetual Care Trust” with a zero balance.

“In other words, they zeroed out one account and transferred most of the funds to a new account,” Ruhl explained. “From an accounting standpoint, all Dolan did was rename the assets. It was a shell game.”

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