Elder Charged With Fraud
Nicholas Rowe is or was an Elder in the Nashua East, New Hampshire congregation of Jehovah’s Witnesses. He is a Bethelite.
He also ran a financial investment firm at the same time.
While an Elder, he participated in Judicial Committees that judged members moral conduct and then took punitive actions.
He was dispassionate with no fellow-feeling and disfellowshiped even when a member would voluntarily come forth and confessed their sin treating them as if they were unrepentant.
I find it paradoxical that while Jehovah’s Witnesses condemn the “greedy commercial world”, that an Elder would be a financial investment advisor to profit off the world they find repugnant to be in.
He has been revealed for his true nature. He probably wants to be treated mercifully by the Court’s judges. The mercy he didn’t show to the fellow associates he threw out of the congregation, labeling them as ‘apostate’ worshippers for standing for truth.
A Bedford investment adviser, accused of taking advantage of elderly widows and older investors, has reached a settlement with the state Bureau of Securities Regulation that will require him to pay restitution and penalties.
On Aug. 29, 2012, New Hampshire state officials issued a lengthy cease-and-desist order arguing that Rowe targeted elderly widows, putting their money into high-risk securities such as leveraged ETFs — losing $2.4 million over five years — while also charging excessive fees and lying about his credentials.
Last November, FINRA ruled against Rowe, ordering him to pay $1.8 million.
In December, The Superior Court for North Hillsborough County froze Rowe’s assets. He is no longer operating his RIA and surrendered the licenses both for himself and the RIA, says Jeff Spill, deputy director of the New Hampshire’ Bureau of Securities in Concord, N.H.
Rowe is in the midst of bankruptcy filings for himself and his firm. Because Rowe is a longtime investor in RedBlack, Spill says, it is possible that assets of RedBlack could end up in the bankruptcy court, possibly as restitution to investors. While Rowe owes a great deal, including the $1.8 million to FINRA, Spill says there are assets in his estate, which would come into play to pay debtors.”
46 “Beware of the scribes, who like to walk in long robes, and love greetings in the marketplaces, the best seats in the synagogues, and the best places at feasts;
47 who devour widows’ houses, and for a pretense make long prayers: these will receive greater condemnation.” NHEB