Grace Investments Named In Lawsuit
July 28, 2016 at 4:25 p.m.
A lawsuit was filed in Kosciusko Circuit Court last week against Grace Brethren Investment Foundation, Winona Lake.
The suit - Alice M. Peer and Mary R. Peer, as attorney in fact of Angie Garber v. Grace Brethren Investment Foundation Inc. - seeks a complete accounting of Angie Garber's financial dealings with the company.
According to the lawsuit, GBIF refused to disclose those details of financial dealings to Garber's chosen power of attorney and niece, Mary Peer.
The suit states that Garber had a large investment account held by GBIF. Also named on that account were her twin sister Alice Peer, and Mary Peer. After Garber appointed Mary Peer as her power of attorney, with complete authority to act on her behalf, Mary Peer made an agreement with GBIF that they allegedly violated.
According to the suit, and the Peers' attorney, Mark Chambers, of Haller & Colvin, P.C., Fort Wayne, Peer and GBIF had an agreement that Garber would keep her money invested with GBIF on the condition that any withdrawal or transfer of funds more than $1,000 first would be approved by Mary Peer.
In March 2003, GBIF allegedly stopped complying with the agreement, and on April 14 Garber made a $50,000 withdrawal payable to Grace Brethren North American Missions Inc., the parent company of GBIF.
According to the lawsuit, after Mary Peer learned of the $50,000 withdrawal, she requested an accounting of Garber's accounts and subsequently was refused.
Larry Chamberlain, president and director of GBIF, refused to comment on the situation, and instead e-mailed a statement attributing his lack of comment to respect for all parties involved in the legal action.
A letter from Chamberlain recently was posted on Grace Brethren North American Missions Web site requesting donations to replenish Garber's account.
In the donation request letter, Chamberlain says "We would like to raise $25,000 to help replenish Angie's account and ensure that she continues to be well cared for. Would you please consider giving a generous gift of love for this dear servant of God?"
The Web site address is online at www.gbnam.org [[In-content Ad]]
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A lawsuit was filed in Kosciusko Circuit Court last week against Grace Brethren Investment Foundation, Winona Lake.
The suit - Alice M. Peer and Mary R. Peer, as attorney in fact of Angie Garber v. Grace Brethren Investment Foundation Inc. - seeks a complete accounting of Angie Garber's financial dealings with the company.
According to the lawsuit, GBIF refused to disclose those details of financial dealings to Garber's chosen power of attorney and niece, Mary Peer.
The suit states that Garber had a large investment account held by GBIF. Also named on that account were her twin sister Alice Peer, and Mary Peer. After Garber appointed Mary Peer as her power of attorney, with complete authority to act on her behalf, Mary Peer made an agreement with GBIF that they allegedly violated.
According to the suit, and the Peers' attorney, Mark Chambers, of Haller & Colvin, P.C., Fort Wayne, Peer and GBIF had an agreement that Garber would keep her money invested with GBIF on the condition that any withdrawal or transfer of funds more than $1,000 first would be approved by Mary Peer.
In March 2003, GBIF allegedly stopped complying with the agreement, and on April 14 Garber made a $50,000 withdrawal payable to Grace Brethren North American Missions Inc., the parent company of GBIF.
According to the lawsuit, after Mary Peer learned of the $50,000 withdrawal, she requested an accounting of Garber's accounts and subsequently was refused.
Larry Chamberlain, president and director of GBIF, refused to comment on the situation, and instead e-mailed a statement attributing his lack of comment to respect for all parties involved in the legal action.
A letter from Chamberlain recently was posted on Grace Brethren North American Missions Web site requesting donations to replenish Garber's account.
In the donation request letter, Chamberlain says "We would like to raise $25,000 to help replenish Angie's account and ensure that she continues to be well cared for. Would you please consider giving a generous gift of love for this dear servant of God?"
The Web site address is online at www.gbnam.org [[In-content Ad]]