Bp. Bernard Fellay a “millionaire” ?

Who knows?

I sure don’t, but I think that it is a relevant question to ask in the light of what has happened to the Society over the past years.

Bp. Fellay admitted with previous interviews that there was probably going to be a split. Why would he care, when he holds the purse strings to the finances of the Society, as well as having controlling influence on the companies and trusts that are used in association with the Society?

I have said this before in the Krahgate files: It is extremely dangerous for someone who is controlling the direction of an organization to also control the finances. Bp Fellay has set himself up at CEO, CTO and CFO of “XSPX Inc.”, and as we have seen, he is “untouchable”. Resembling the dictators of North Korea, South America, or Africa, any dissenting voice within the Society is eliminated: either kicked out, or sent to an outpost, such as South Africa as punishment for their “sins” of dissent. Bp Fellay appears to have deliberately set up “XSPX Inc.” that he alone controls the direction and the finances – it so appears, exclusively. He obviously only trusts himself to take this all encompassing role.

CEOs are required mostly to dissociate themselves from the financial aspects, and indeed organizations such as the US Securities and Exchange Commission would indeed red flag any US company that has a CEO who has such influence, so as to safeguard against “insider trading”, fraud, etc.

Bp Fellay is director of many companies and trusts, including ones discussed in the Krahgate files. He is also director of many US companies, more than likely set up as a domestic non-profit corporations, see www.corporationwiki.com/search/withfacets?entityFacet=Person&term=fellay

In turn all of the US Chapels are set up as individual companies, with the “owner” being one of the parent companies. It is interesting to note some of the key personnel shown in the “network diagram” – many are not US based including , as in the diagram, Emeric Baudot, Niklaus Pfluger, John D. Fullerton (although he is now shown as “inactive”), and Christian Thouvenot. Another very curious one is Franz Schmidberger in the directors list. See: www.corporationwiki.com/p/b8sap/franz-schmidberger

Can anyone suggest an “ethical” or practical reason why the Seminary Regens of Zaitzkofen from Germany would still be an active Director of a US based company??

This leads to another SSPX company spoken little about, although I mentioned it in the Krahgate files, and that company was established in 2002, and it is “STPI Société Tradition Patrimoine Immobilier Sàrl”

This company that has the shareholders listed as part of the public arena, unlike many of the other companies or trusts that are operated by the SSPX, such as Dello Sarto AG, which one needs to pay for the information. I think Bp Fellay would be a shareholder in other XSPX companies – but I could be wrong  :)

The latest change of company statutes in late 2010 for “STPI Société Tradition Patrimoine Immobilier Sàrl”. Here is the official docuмent: www.moneyhouse.ch/en/u/pub/shab_publikation_stpi_societe_tradition_patrimoine_immobilier_sarl_lausanne_5902808.pdf

The relevant part of this is the change in share holding. The shareholders are quoted as “Bernard Fellay, Franz Schmidberger, Alfonso Galarreta, and Niklaus Pfluger”. The “odd man out” is Bp. Galarreta. I have no idea what this means, as the other shareholders come as no real surprise.

Each of the shareholders have holdings of CHF40,000 (Swiss Franc). This represents the liability of the company that is listed as CHF160,000. The actual value of the assets of the company could be much, much more, and probably is. If the company “owns” or controls properties or trusts, this could run into the 10’s of millions potentially. Each of these individual shareholders (or their estates) could potentially be worth millions.

I wrote “(or their estates)” for a hypothetical situation. There is possibly no direct statute within the SSPX that the members need to “Will” all their worldly goods back to the SSPX when they die. I don’t know, and would be interested to know what the requirements are, if anyone does know more. If one of the shareholders in the company should die, their estate inherits their shareholdings (unless it is written in the company constitution otherwise). Could be an interesting situation if a next-of-kin of one of these clergy inherits a SSPX shareholding!

The Archbishop formed the Society with members expected to take a vow of “a Spirit of Poverty”. Being a shareholder in a number of companies, which are worth REAL money doesn’t quite seem to fit this philosophy. But these men have a "grace of state" - so I will give them the benefit of the doubt.  :)

Freshwater.

PS: Could someone who has an account on Cathinfo please post this there?

:dancing-banana:
Does it matter?  He won't be taking it with him when he dies!  In so far as I'm concerned, Bp. Fellay & Associates can have their money.  It won't buy a place in Heaven...or the joy of having the True Faith on earth.