UBF Worships Money
Updated: Jan 24, 2019
After doing some research it turns out that there is a lot of concrete and undisputed evidence that UBF worships money
In the early years of UBF the seeds of greed was evident. In fact Sarah Barry admits to tax evasion:
“I prayed about how to register UBF as a tax-exempt organization in the USA… I went to Mississippi and got help from my father and from Jack, a lawyer my boyfriend – in the first grade. We wrote a charter and by-laws and registered UBF as a Mississippi corporation, with headquarters in Chicago. The small UBF chapter in Chicago gave sacrificially and purchased a store-front building, 5817 N. Clark, to use as a meeting place.” — Sarah Barry Quote Reference: http://history.ubfservice.com/people/sarah_barry/sarah_barry.htm
Here is UBF registered as a Mississippi Company: http://www.companies-mississippi.com/university-bible-fellowship-1kgb/
In the late 80’s and early 90’s UBF went on a shopping spree:
Let me try to give you a kind of timeline. I was recruited in late 1983. Only a few had houses including EE [EE a.k.a Chang-Woo Lee] which was worth $200,000] , Dr. Joseph Chung, Dr. James and Dr. Sarah Kim, Isaac Choi (Xerox copier repairman, son of poor widow, go figure)
When ubf was forced out of their old center on Clark St. due to complaints by neighbors and former ubf members, they headed over to Artesian Street. It seemed to set off a house buying frenzy. Dr. John Lee quickly bought a house two blocks away, then many ubfKoreans ran out to buy houses. I was told by one lady how grateful she was that EE gave her a check for $7,000 to use as the down payment. By like 1988 almost all the ubfKoreans had bought a house.
Not sure exactly what caused the buying spree, that was a matter among the ubfKoreans. They bought their houses very quietly, while speaking very loudly against buying a house like non-ubfKoreans. I can remember one ubfKorean in my fellowship Richard Choi. He shared these very weird testimonies where he prayed that he may never become corrupted by buying a house, and he was actually already in the process of buying a house, a two unit one.
Many of ubfKoreans bought two unit buildings, living in one and collecting one rent from newly arrived ubfKoreans. Dr. Henry “Hank” Park sold his home for like $400,000 before he went to Columbus, and there was no mortgage against the property since like 1991. So in a very short time he paid off a huge mortgage. Supposedly his family in Korea is wealthy. But he was allowed to tap the family wealth instead of turning it all over to ‘God’s work’.
Ron Ward bought his house with a mortgage of $178,000. Within one year he refinanced it, with the new mortgage of only $100,000. Then one year later his mortgage was paid off in full, and a release was recorded. In two years this loudmouth paid off a $178,000 mortgage. You can go to the Cook County recorders office and see it all for your self. Failed doctor Ben Toh bought two very expensive houses in a very short time, and they have no mortgages. He couldn’t even afford to buy a car, suddenly he has two houses.
Many others have done similar things. Mark Yoon had so many expenses sending himself through PhD program at Loyola, sending his five children to the most expensive colleges and medical schools, but Yoon still managed to have a $400,000 house without any mortgage, and his are kids driving very expensive SUVs.
I hope everyone can just come to realize how much these people love money, and want to get their greedy little hands on money. Not by working for it, but by deceiving it out of peoples’ pockets. ubf leaders have gotten to where they are today on deception alone. God has not helped them to become rich, but maybe the Devil has.
Please spread the word about the greed of ubf leaders.” Source:http://www.voy.com/60734/8/8044.html
Here is evidence of Lee and Barry when they have forged/made checks: https://ubfhistoryx.livejournal.com/4610.html
In 2001 the same years those checks were composed there was an investigation on UBF’s finances by a private eye following reports by ex-members:
“Author: private eye Subject: Examples of UBF disinformation?
Recently there were some postings on the Korean bulletin boards which purported to be answers to Reformers questions. In reality, I want to ask you if they are answers or disinformation? That is answers that give absolutely no information although they pretend to.
First, concerning UBF finances a letter from UBF’s Chicago Bank: *************** Devon Bank 6445 North Western Avenue, Chicago, Illinois 60645-5494 (773) 465-2500
Date January 4, 2001
To Whom it may concern:
This is to certify that University Bible Fellowship Overseas who resides at 6558 N Artesian Ave. Chicago, IL. 60645 opened a Business Account at Devon Bank, Chicago, Illinois on October 12, 1990. This account has been maintained in a satisfactory manner from that date and currently carries a balance of $341,384.44
Sincerely Devon Bank
______________________ STATE OF ILLINOIS COUNTY OF COOK
Subscribed and sworn to before me this 4th day of January 2001. **************
This is only a balance statement for a single account. Of what value is this? Let’s see the real books…how much came in….and how it was EXACTLY spent. Let’s see the accounting for chapters, individuals, steak dinners, cars, personal expenses, salaries, housing expenses, etc….. There should be a COMPLETE DETAILED accounting of all money that came in and out. Where is it?” Source: http://www.voy.com/63135/49.html
The private eye is correct that there should have been a complete detailed accounting of UBF’s finances especially when UBF is asked about it.
It has been report that UBF made so much money that they have converted it into gold bullion (or gold bars). How much gold bars are worth? You can check that out on this website: https://www.jmbullion.com/charts/gold-price/#
In April 12, 2002 Barry gave pension to all the UBF chapter directors, UBF staff, and other UBF faculty (By pension Barry is actually just bribing them to stay in UBF :
You can read Barry’s letter here: http://web.archive.org/web/20050111053240/http://ubf-info.de/int/late/sarahbarry200204.en.htm
UBF didn’t become a member of ECFA until 2007: http://www.ecfa.org/MemberProfile.aspx?ID=20401&Type=Member
Sidenote: UBF has been working together with their (monetary) Korean business partner called Kingdom Inter-Missions Network (KIMNET)since at least the mid 2000s. UBF has annual meetings with their business partner as noted on their website: http://www.ubf.org/world-mission-news/kimnet-2016