Partner doubts Ministries' gold claims
Greater Ministries' Liberian partner downplays their claims of wealth.
The Tampa Tribune, March 14, 1999
By Michael Fechter
TAMPA - Facing hundreds of Pennsylvania investors wondering why they hadn't been
paid in several months, Greater Ministries pastor Don Hall urged patience last
November.
``Hang on, stay in the boat,'' Hall said. He mentioned a Liberian mine Greater owned primed with $40 billion in gold a mere 15 feet below the surface.
Investors were told to expect gold- and silver- backed certificates redeemable after a 45-day lag time for Liberian bank clearing.
The group's Liberian business partner dismissed such claims Saturday in a telephone call to The Tampa Tribune.
``I don't know where they got that - $40 billion - how do you quantify $40 billion?'' said Niko Shefer, a South African businessman who said Greater Ministries is a 40 percent partner in the Liberian venture.
Shefer acknowledges making little money in the Liberian mine so far but hopes that will change by fall. But he dismissed Hall's boasts as unprofessional, noting that market forces couldn't absorb so much gold in a short period and it's physically not possible to accomplish anyway.
``It might well exist,'' Shefer said. ``Even if you have $40 billion in gold you don't take it out with a front- end loader tomorrow. It's a major exercise.''
One that could take decades, he said.
