As of July 16, 2010:
Foreign Exchange rate for Philippine Peso
1US$ = 46.2790 Php
Recent Iglesia Ni Cristo acquired properties:
El Cajon property = $1,755,000. (80+million Philippine Peso)
LA Chapel = $7,600,000 (349+million Philippine Peso)
Another INC church property in Sacramento CA with the price is still unknown
Manila, Philippines - Iglesia Ni Cristo members are usually proud and mostly boastful that 'their' Church founded by Felix Manalo are acquiring expensive properties overseas. You can actually see it on their blogs and personal comments on different forums. They take pride that their "evangelical mission" is reaching USA and was able to purchase properties which INC members does not actually own. The blind INC members failed to see that those properties are actually owned by the INC (sole) corporation and the INC members have practically no amount of ownership once they decided to leave the cult. All fame, glory and WEALTH belongs to the Iglesia Ni Cristo (sole) corporation. What I am wondering right now is that, how was the INC cult able to finance these expensive and luxurious properties overseas?
The recent El Cajon property, LA Chapel and another church property in Sacramento CA are just the tip of the iceberg of the Iglesia Ni Cristo properties worldwide. While the Filipinos (including INC members) are tightening belts because of global financial recession, the Iglesia Ni Cristo cult are buying expensive and luxurious properties overseas. The massive decrease of the Iglesia Ni Cristo members for the past several years are very noticeable on the number of votes on their political party list group ALAGAD. The INC membership overseas is really not that great. And everyone knows that properties, especially in the USA are good investment $$$. Even the company stocks would fail, land ownership has always been a good investment. Is the Iglesia Ni Cristo cult wise in putting their money on those expensive properties overseas while their total membership are still in acceptable number? I guess so. Should the INC members question the INC administration for buying expensive properties overseas while some of their members are living in poverty? I guess they should, but it I think it is prohibited for any INC member to question the INC administration, especially about their doctrine, more so on financial matters.
Philippine Center for Investigative Journalism (PCIJ) reported that those 2 housing projects of Iglesia Ni Cristo in Montalban Rizal and in Cavite have incomplete permits and questionable tax-exemption deals here in the Philippines. Although I seriously doubt that INC can escape their tax obligations in America, I think it's about time for the Philippine Government to investigate the Iglesia Ni Cristo cult for having a huge amount of money. For a start, the Alagad party list representative, INC member Rodante Marcoleta is reportedly receiving at least 100 million pork barrel [P70 million from the Priority Development Assistance Fund (PDAF) + at least P30 million from Public Works Fund = “pork-barrel funds”]on a yearly basis during the Arroyo administration while some Congressmen were not able to receive any because of their Anti-Arroyo principles. Where does the "honorable?" INC congressman spent his pork barrel? For the past years that the INC congressman have seated as a law-maker (not as a pork-barrel spender), where does the millions of pesos went? I am just asking. I guess this is where the proposed Freedom of Information (FOI) bill would be ideal to use. Every Filipino citizen will have the proper access about government funding and expenses once the proposed Freedom of Information (FOI) bill will be passed. I hope we can finally see the day that this useful bill be finally be passed and put into law. The involvement of the Iglesia Ni Cristo cult in government appointments should also be investigated. Why does a cult like INC pushing or endorsing government appointments? The separation of Church (including cults) and State should be applied!!!
Criminal Investigation to Iglesia Ni Cristo? Forget about it.
INC cult placed their member as the Director of National Bureau of Investigation (NBI).