Newsweek is suing former owner, controversial pastor David Jang, in search of millions
(RNS) – The company that owns Newsweek magazine has filed a lawsuit against its former owners and religious leader David Jang to recoup millions of dollars in losses it previously incurred guide.
The lawsuit, filed this week in New York State Court, is aimed at IBT Media, which owned Newsweek from August 2013 to September 2018, to compensate NW Media Holdings for the multimillion-dollar losses it suffered as a result of the past mismanagement of Newsweek were created by IBT.”
IBT Bought Newsweek in 2013, after a failed reboot, resulted in the company ending print publishing. The sale was controversial at that time due to IBT’s connections to Jang, the founder Olivet University, a small Christian school in San Francisco, in the early 2000s. Jang is from Korea and once worked for a Unification Church seminary. corresponding Christianity today. He and his followers founded The Christian Post, among other media ventures.
The complaint alleges that IBT, owned by Etienne Uzac and Johnathan Davis, is part of a network of organizations and businesses affiliated with a religious group known as “the Community” overseen by Jang.
These different companies all have close ties. Tracy Davis, a dean and past president of Olivet University, is married to Johnathan Davis, CEO of IBT Media and co-owner of Newsweek. William Anderson, the former editor of The Christian Post, was a board member of Olivet.
“Although Jang does not formally own many of the companies on the network or hold official roles, he exercises authority over their operations and uses them for his personal and community gain,” the lawsuit reads.
Newsweek’s attorneys also allege that Jang encouraged members to “engage in fraudulent schemes to receive funding” and forced those same members to “use funds from the various entities to support the network as a whole.” finance”.
Citing a community insider, Newsweek’s lawsuit alleges that IBT’s association with Jang and its affiliates amounts to a legal “alter ego” that claims that seemingly independent entities are actually the expression of an individual or group .