A separate fund has been established to provide supplemental compensation to victims of the IPIC fraud.  The fund is being supported by a consortium of Christian leaders and ministries, including Advisory Trustee Pastor Reece Bowling.  The fund is administered under Court supervision by its Trustee, Michael J. Quilling.

One of the most tragic aspects of the IPIC fraud is the fact that fellow Christians were used as unwitting participants against each other.  A visible, well-respected person within a Christian community would be approached and convinced to make a small investment, based often upon testimonials from others in the larger Church.  That investment would be paid in full, but not from business operations; the funds came from subsequent investors.  The prominent person would then be asked to confirm the fact of payment, and then used as a testimonial example in efforts to persuade others to invest.  It is now sadly clear that the return that was paid was not in fact the profit of the underlying joint venture as IPIC promoters represented, but was instead drawn from the deposits made by others.  As a result, some investors, whose circumstances are extreme, now stand to lose their life savings. 

Encouraged by offers made by these well-respected Christian leaders and organizations to return the profits thus obtained, the Receiver sought and received Court approval to establish a supplemental compensation fund, with its own trustee, who has discretion to supplement the compensation otherwise available for the more extreme victims of the IPIC fraud.  The SEC fully supports the establishment of this fund, which is consistent with the SEC’s longstanding policies favoring investor compensation and its statutory mandates.

Those willing to return profits received from IPIC or an affiliate are encouraged to complete the form below and to send that net profit to Michael J. Quilling, as Trustee for the IPIC Investor Supplemental Compensation Fund.  Acting in consultation with Pastor Reece Bowling of the Orchard Road Christian Center (an affiliate of Marilyn Hickey Ministries), Mr. Quilling will prepare and recommend for Court review and approval, a supplemental compensation plan, weighted in favor of the most needy of the IPIC investors.  Donors to the Fund will obtain a release for reimbursed funds, provided that a complete accounting is presented and all of the profits are returned.

The Receiver believes that the net result will be an overall increase in the net compensation actually provided to victims, as well as a direct increase to those least able to bear the loss.

Click here to complete the donor pledge form. 

Click here for mail, fax, and wiring instructions for Michael J. Quilling, Trustee.

Click here for copies of the form release.

Click here for copies of the Motion and Order.

Click here to present your questions via e-mail.