Christian $11 Million Ponzi Scheme

Ephren Taylor was introduced to the congregation of New Birth Baptist Church in Atlanta, by Bishop Eddie Long one Sunday morning, as a financial advisor, who’s claimed to have made his first million before he turned 18. He promised to do the same for his fellow Christians. According to ABC News, Taylor shouted to the congregation one morning:

 “We’re going to show you how to get wealth and use it for the building of his kingdom.”

“The Building Wealth Tour” is what Taylor dubbed his investments and advice meetings, which he headlined all over the country.

The Securities and Exchange Commission, saw this ‘tour’ radically different, by stating that what Taylor was actually peddling was a giant Ponzi scheme, one aimed to “swindle over $11 million, primarily from African-American churchgoers,” that reached into churches nationwide, from Long’s megachurch to Joel Osteen’s congregation in Houston.

Hiding out from lawsuits, fed charges and very angry, mostly African-American investors in at least 40. Taylor has disappeared. Lakewood Church told ABC News they opened their doors to Taylor to speak on the subject of “Biblical financial principals,” but “when he began to promote his services as a financial advisor,” he “was stopped from doing so.”

Several of Bishop Eddie Long’s congregants are suing The New Birth church and Long himself. Long has claimed he and the church did nothing wrong.

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