The Bogo Tuition Fund, first reported on by Matzav here, has, as of this writing, been suspended.
Matzav.com communicated with R’ Zachariah Waxler, CPA, who the fund organizer had said was overseeing the monies donated to this cause.
R’ Zachariah tells Matzav.com that he and Rav Chaim Mayer Roth, who had also been said to be overseeing the fund, “take no responsibility of the fund and its operations.”
Following concern and questions expressed by people about the fund this morning, R’ Zachariah suggested to the fund organizer that the funds be placed into an account under the accountant’s control so that at least the principal would be protected.
The involvement of Rav Roth and R’ Zachariah was simply as a chesed to the klal to ensure some level of accountability.
“At this point,” however, Zachariah told Matzav.com, “I requested that the campaign be shut down and it has currently been suspended. All contributors will be refunded in full.”
{Matzav.com Newscenter}
Thank you Matzav.com for bringing us reliable updates on this confusing story.
Another Ponzi scheme comes crashing down. It joins Amway, Ambit, Midland Euro, Wextrust, E Graphics, etc….At least gullible chevra didn’t lose any money on this one.
Ty Matzav
But this all story sounded fishy and at best not thought out.
First, why not involve rabbonim from the get go?
Second point, if u doing it to help the poor, you should at least speak to the schools and rabbonim to ascertain who needs this kind of help and who can effort tuition without the help. Especially where u will only match 1 million, the poor should have first licks!!!
im ashamed to be living in such a dishonest & corrupt world where people can scam their brothers of their money that they could barely make ends meet.
may we all do Teshuva ASAP