X Rated Residences
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Posted by:
Nik ®

07/24/2006, 04:46:31
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In the X Rated thread below Lexy mentioned the 'Reigate Residence'

>Re; the residences...I think he may have been talking about Woodside at first.......and then Reigate ( the Reigate residence is quite imposing but not that big ,the garden is large though with a magnificent view from the top of the North Downs ).Even though it's close to the motorway ( which hadn't been constructed when it was first rented and one of the reasons that the premies managed to buy it comparitively cheaply ) it must be worth a fortune now.<

The PRMI website has a section on the Swiss House property. The notion that it was bought 'cheaply' may not be correct. There is no evidence that any purchase took place before 1989 which begs the question what did happen to the funds collected from premies over many years ? Unlike the purchase of the Trancas Canyon property, which was achieved with funds which were legally (if morally questionable) the personal entitlement of Rawat - the funds for the 'Reigate' property were garnered through a registered Charity, and it seems that Charity made no account of those funds.

The actual address of the 'Reigate' residence is Swiss House, Colley Hill, Tadworth, Surrey.

http://www.prem-rawat-maharaji.info/index.php?id=34  

The source of SEVA's funds for this 1989 acquisition are unknown, - SEVA does not engage in trade and therefore has no obvious source of income. Prem Rawat's followers contributed substantial funds at the behest of Officers of The Divine Light Mission, with the expectation that what by then was a Registered Charity would use those funds to acquire a free hold property. At no time did DLM[UK] make any declaration in respect of its funding of the Swiss House property. Swiss House appears on the UK Land Registry under the Title Number SY356311.

In response to Prem Rawat's expressed views that the Woodside Avenue property was not adequate to his needs, and that he preferred the security of a free hold property, successive General Secretaries of DLM[UK] made appeals for funds to acquire a free hold property to serve as Prem Rawat's UK residence. In 1974 a property called Swiss House, located in the 'stock broker belt' of Colley Hill, near Reigate, Surrey was acquired on a lease hold basis. It is unclear in whose name the lease was acquired or what funds were used to support the acquisition. The terms of this acquisition were never made clear to the mass of Prem Rawat's followers in the UK and there seems to have been a general 'assumption' that a mortgage was held on the property and that DLM[UK] was involved in the progressive purchase of equity. In fact there is no evidence despite the considerable fund raising effort by DLM[UK] that the organization ever owned any equity in any property and it appears that funds raised by DLM[UK] were used to support the continued leasehold of the Swiss House property until 8th March 1989 when the Freehold of the property was acquired by the SEVA Corporation of America. SEVA CoA is the entity which owns many of the assets exclusively enjoyed by Prem Rawat. SEVA's UK contact is c/o Mssrs Rakisons, 27, Chancery Lane, London, WC2A 1NF





Modified by Nik at Mon, Jul 24, 2006, 04:47:42

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Re: X Rated Residences
Re: X Rated Residences -- Nik Top of thread Archive
Posted by:
lexy ®

07/24/2006, 07:56:37
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I don't know any details Nik. In 1981 I bought a very small house ( with my ex-husband) near  Purley in Surrey.It cost £27 000.That wasn't very far from the residence but it was in nowhere near such a prestigious area.I am totally guessing that,at that time...Swiss Cottage and the grounds would have been worth £ 250 000 (????????). 

By comparison,at around the time the motorway (M25) was being constructed very close to the residence and the local premie talk and chit-chat was that although the res. was rented ,Maharaji was on very good terms with the owners who appreciated that the property was being well maintained and considerably improved.They were ,according to the gossip,prepared to sell at a price that took into account the money that Rawat ( ie the premies) had already spent on the property aswell as the devaluation due to the proximity of the motorway.  

The Swiss Cottage (it was in that style but always referred to as "the residence" wasn't particularly big ( I did ,at least once,do some cleaning service inside), but as I stated it was in a wonderful location and lots of improvements were made to the grounds and out buildings in the early eighties.

I must have been left with the impression that advantage had been taken of the lowering of the price (motorway) and it had been purchased.

The reality is that I have NO IDEA what happened as I moved abroad.I would have bought it at that time though!! 






Modified by lexy at Mon, Jul 24, 2006, 07:59:57

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Re: X Rated Residences
Re: Re: X Rated Residences -- lexy Top of thread Archive
Posted by:
Nik ®

07/25/2006, 08:06:26
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Thanks for the background Lexy.

>By comparison,at around the time the motorway (M25) was being constructed very close to the residence and the local premie talk and chit-chat was that although the res. was rented ,Maharaji was on very good terms with the owners who appreciated that the property was being well maintained and considerably improved.They were ,according to the gossip,prepared to sell at a price that took into account the money that Rawat ( ie the premies) had already spent on the property aswell as the devaluation due to the proximity of the motorway. <

The key issues are:

1. DLM - a registered Charity was involved in raising money that went on rental that was not part of a charitable activity.

2. Improvements were made using funds, that were either charitable, or were raised under a Charity's auspices,  that could have no conceivable charitable purpose.

3. The improvements that had been made were 'capitalised' by the private entity that bought the freehold - SEVA Corporation - by SEVA gaining the improvement benefit in terms of a reduced purchase price.

The role of premies in accepting this process  was clearly naieve, however the lack of proper financial controls, the ambiguous position of DLM and the complicity of the x rated crowd all contributed to a situation where the ordinary premies who were paying for all this were effectively disempowered. And this was not 1975 - the improvements were taking place throughout the 1980s and the purchase didn't happen till 1989.

Nik







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....and it had a helipad
Re: Re: X Rated Residences -- Nik Top of thread Archive
Posted by:
lexy ®

07/26/2006, 16:14:43
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