Dear Family and Friends,
I want to take this opportunity to share with you, our family and friends, the great disappointment and suffering Kathy and I, along with others, have experienced in the last several weeks. To those of you who already are aware of the situation Kathy and I find ourselves in, we thank you for your prayers and kind words.
Out of respect for our relationship, I don’t want to be vague, and therefore, this letter is a bit lengthy. Thanks for taking the time to read it.
On May 15, 2009, I was totally shocked to learn that we along with many others had been hurt by what is now alleged to be a deceitful investment scheme – a very long and elaborate con. My mistake was in trusting someone I believed to be a friend. I believed the words of this person that I have known for years and this apparent deception has led me down a path that has brought pain to many, as well as my family. What appeared to be a wonderful investment opportunity that would help my family and strengthen the Lord’s work is turning out to be quite the opposite. What a shock to read my name in the SEC report and the newspapers in the same paragraph where the word ponzi scheme is written. I suppose being somewhat high profile; the newspaper reporter felt it necessary to name my brother and me as some of the investors and as people that were used by this trader to introduce some people to alleged scam.
I am filled with regret and am greatly disturbed that I told some family and friends of what I thought was a great blessing. Several of them in turn asked to meet with this person to find out details about this opportunity, and that resulted in some of them investing and subsequently some of them losing their investment. There were five relatives and ten Friends that I am sad to say I first introduced into this opportunity. I should have gone to great lengths with due-diligence getting the proper help to critically look into my investor friend’s activities and this opportunity. Unfortunately, I cannot wind back the clock.
This investor person said he wanted to help my family as well as strengthen the ministry that God has led Kathy and me into by giving us a percentage out of the profit that he was making for his role as the trader. As I did not have much money to invest in the first place, I thought this offer was a further blessing. However, I came to find out over a year later that one apparently needs a license to get any compensation when it comes to the stock market. The monies I did take out, I gave to charities and others in need. The primary charity I gave to was Heaven’s Rehearsal where Kathy and I have been volunteering since 2005 as co-chairs. We still drive the same two cars and live in the same house but find ourselves in the worst financial position we have ever been in.
I have been one of the many people interviewed by the OSC (Ontario Securities Commission) as they have been trying to gather information on this trader. I was happy to help in any way I could. I appreciate their directive to stop abuses to the system and to protect people from being cheated and taken advantage of. By the way, I must clear up a misconception held by some. There are NO allegations that I was involved with or had any knowledge of the wrongful conduct of the trader. I am grateful to say that those relatives and friends that I introduced to what I thought was a great opportunity are not holding me responsible for any losses they might have realized. They have all been gracious and kind. In fact, I feel that our relationship will be deeper as we together are going through something that is painful.
Please realize that the sadness in our hearts is not about our financial position, but for our friends and family who have been hurt. As well, our concern is about our relationship with you and others and how this might affect the ministries we have been called to serve.
Before God and you, my friends, I assure you that my motives were pure and that I had the best intentions for everyone involved. It has always been my desire that the Kingdom of God is strengthened and people are blessed. It appears that my name has been dragged through the mud of someone else’s making. All truth-be-known – I have not compromised my integrity and continue to look for God to redeem this situation. What was intended for evil, I believe, God will turn to good.
During the upcoming months of further investigation, it has been determined that it is best that I do not host 100 Huntley Street. I am confident that God is working and leading me to a place where I can to a greater degree express His heart of love for His people. This difficult season is developing in me understanding and compassion for others who have suffered as a result of deception and loss. I feel this refiners fire will accomplish all that God desires. My faith has grown stronger during this time. I am encouraged by the biblical story of Joseph. God allowed Joseph to go through far more difficult times than I will ever have to go through. He was rejected and falsely accused, and yet the valley he went through led him to a place of great blessing and God’s plans being fulfilled.
I cannot begin to tell you the degree of sorrow and remorse I feel over these circumstances. We remain in fervent prayer day and night over this situation. I have repented before the Lord for not discerning truth from a lie and for any negative fallout.
Please join us in prayer for the Crossroads 100 Huntley Street Board as they are doing their very best. Also, pray for the others who have been hurt by this scheme. Let us also pray for this investor person and for his family.
Thank you so much for the support Kathy and I feel through your love and prayers
In God’s amazing embrace of love,
I added the pictures in this post for clarity.
1. Reynold and Kathy Mainse Crossroads Christian Communications Hosts of 100 Huntley Street, VP of Missions
2. Gordon Driver Axcess Automation/Funds
3. David Rutledge former Director of Ministries Crossroads Christian Communications, former employee Axcess Funds
I have been told Reynold Mainse lost 4 hundred thousand dollars; which according to the letter above he “gave to charities, people in need”, and “Heaven’s Rehearsal“, a rock concert held at the Air Canada Centre in Toronto. I do not know what Ron Mainse invested, gained or lost. While there have been rumours their mother was among the investors I cannot confirm that, nor can I confirm the amount Reynold lost. I trust my sources, but I think clarity needs to come from those involved.
Reynold Mainse says he involved 5 to 10 friends and family (a few of the second wave of Axcess Automation/Funds investors).
This is now confirmation that people who trusted 100 Huntley Street were harmed and investments went beyond family members.
Canadian Christianity confirmed both Reynold and Ron Mainse had taken a ministry and leadership investment stewardship course.
This letter from Reynold Mainse comes as Gordon Driver heads to a California court again this week.
Media, bloggers and interested parties – Grab a screen shot of this post, please. Just in case.
Again, my deepest gratitude to a BDBO reader who has conducted his life and ministry with transparency, honesty, clarity and in the interests of those he serves.