05-27-2009, 06:21 PM
WFF secretary service Wrote:Today we received one more letter from PAUL CHUA to publish in the forum.
On Sat, 23/5/09, dr.vellusamyrajan@ymail.com <dr.vellusamyrajan@ymail.com> wrote:
From: dr.vellusamyrajan@ymail.com <dr.vellusamyrajan@ymail.com>
Subject: NON PROFT ORGANIZATION
To: internacional@santonja.com
Cc: abbfasia@yahoo.com.sg
Date: Saturday, 23 May, 2009, 6:08 PM
Dr. Rafael,
I have been reading all the emails which has been forwarded to me by several members of the Indian Bodybuilding Federations (4 association in India in total), and I have also been reading all your articles in the IFBB website and sadly the stories are slanted and one sided.
I do not see any criticism or attack by the ABBF in their website against you and the IFBB. To this end, I must say they are man of good standing.
I read thoroughly the JOINT DECLARATION which you signed with the late Ben Weider and it states that the IFBB is a NON PROFIT CORPORATION. I am pretty sure Doctor Rafael that this need to be proved. This is indeed a SERIOUS STATEMENT.
If it is a NON PROFIT CORPORATION, surely you need to submit all the ex-office bearers name list (Stake-Holders), Balance sheets stating profits in financial year endings and reserve funds shown in the Balance Sheets, Investments by the IFBB Corporation and Charities if done any. This accounts has to be audited and approved by the Canadian Government under their law. You need to produce all the documents to show where, when and how the funds were used. This is the norm for non profit organizations to the best of my knowledge.
I am sorry if this touches your nerves...you also have to produce documents from the Canadian authorities that all the transactions were done above board since you are one of the Directors of this IFBB Inc. in Canada as it shows in the Joint Declaration.
I hope to hear from you Doctor and my apologies for taking your good time but as a physical culture enthusiasts, I am very much concerned about the financial situation of the IFBB Inc. because many poor athletes and countries have contributed immensely to the success of the IFBB and all these people should not be taken for a ride and ridiculed.
Thank you and have a GOOD DAY.
Dr. Vellusamy Rajan
c.c. Dr. Paul Chua
That's it!