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| Thug Millionaire Ephren Taylor uses Bible to deceive Christians |
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Ephren Taylor, the Kansas City man accused of scamming New Birth Missionary Baptist Church members out of millions of dollars of their retirement savings, has been arrested on federal indictment charges.
In total, Taylor, the former chief executive officer of City Capital Corp. of Overland Park, Kan., allegedly duped mostly black churchgoers nationwide for more than $5 million.
Ephren Taylor, former CEO of holding company City Capital, in guest appearance on CNBC's Big Idea circa 2007.
Investigators with the U.S. Secret Service and the IRS accused Taylor and co-conspirator Wendy Conner, the former COO of City Capital Corp., of swindling 80 investors in Georgia, including members of New Birth in Lithonia, out of at least $2 million during Taylor’s “Building Wealth Tour,” which allegedly targeted church congregations from April 2009 through October 2010.
New Birth and Bishop Eddie Long weren’t the only mega churches impacted. Members of Joel Osteen’s Houston-based Lakewood Church also invested with Taylor.
The U.S. Securities and Exchange Commission accused Taylor of running an $11 million Ponzi scheme, using investors’ money to pay off early investors and to hide investment losses.
Taylor turned himself in to federal authorites in Kansas City and is facing charges of conspiracy and money laundering as well as mail and wire fraud.
“Mr. Taylor came into our community, promising hard-working citizens a way to make their retirement money go farther,” said United States Attorney Sally Quillian Yates. “The investments he pitched proved to be worthless, along with his promises.”
Taylor, who called himself a “socially conscious investor” when he pitched his investment scheme to New Birth members, pleading not guilty in his initial court appearance. His next court appearance will be in Atlanta on June 27.
New Birth, led by embattled pastor Bishop Eddie Long who crafted a secret financial settlement in a sensationalized gay sex scandal just a year earlier, also made a confidential financial settlement with a dozen former members who said Long encouraged them to invest money with Taylor despite several warnings that the investor was running a capital deficit. The members said they lost more than $1 million dollars.
“It has always been our prayer for a resolution to this matter in which many lost their investments,” New Birth said in a statement. “Our hearts go out to anyone who suffered losses, and we pray for healing.”
Prosecutors said many victims transferred retirement savings to self-directed IRAs. Taylor had clients use specific trust companies, one in Ohio and another in New Mexico. However, Taylor actually controlled their IRA funds, prosecutors said. Taylor allegedly used the money to pay salaries, commissions and personal expenses, and made payments to earlier investors, prosecutors said.
The victims were also told that their funds were being used to invest in real estate, laundries, juice bars, gas stations and other small businesses, and that the promissory notes used would be extremely profitable. When the notes were due, the investors were encouraged to get new notes, which meant a delay in delivering proceeds.
“This case demonstrates the wide-reaching effects of fraudulent investment schemes, its impact on innocent victims, our northern Georgia communities, and the importance of cooperation among our law enforcement partners to suppress this type of criminal activity,” said Reginald Moore, Special Agent in Charge of the United States Secret Service Atlanta Field Office.
Ephren Taylor, the Kansas City man accused of scamming New Birth Missionary Baptist Church members out of millions of dollars of their retirement savings, has been arrested on a federal indictment charges.
In total, Taylor, the former chief executive officer of City Capital Corp. of Overland Park, Kan., allegedly duped mostly black churchgoers nationwide of more than $5 million.
Investigators with the U.S. Secret Service and the IRS accuse Taylor and co-conspirator Wendy Conner, the former COO of City Capital Corp., of swindling 80 investors in Georgia, including members of New Birth in Lithonia, out of at least $2 million during Taylor’s “Building Wealth Tour,” which allegedly targeted church congregations from at least April 2009 through October 2010.
New Birth and Bishop Eddie Long wasn’t the only mega church impacted. Members of Joel Osteen’s Houston-based Lakewood Church also invested in the scheme when they heard about it.
The U.S. Securities and Exchange Commission accused Taylor of running an $11 million Ponzi scheme, using investors’ money to pay off early investors and to hide investment losses.
Taylor turned himself in to federal authorites in Kansas City and is facing charges of conspiracy, mail and wire fraud and money laundering.
“Mr. Taylor came into our community, promising hard-working citizens a way to make their retirement money go farther,” said United States Attorney Sally Quillian Yates. “The investments he pitched proved to be worthless, along with his promises.”
Taylor, who called himself a “socially conscious investor” when he pitched his investment scheme before New Birth members, surrendered to federal agents and prosecutors in Kansas City, pleading not guilty in his initial court appearance. His next court appearance will be in Atlanta on June 27.
In a 2012 complaint, the U.S. Securities and Exchange Commission accused Taylor of running an $11 million Ponzi scheme mainly targeting African-American investors.
New Birth, led by embattled pastor Bishop Eddie Long who came to a secret financial settlement in a sensationalized gay sex scandal just a year earlier, also came to a confidential financial settlement with a dozen former members who said Long encouraged them to invest money with Taylor despite several warnings that the investor was running a capital deficit. The members said they lost more than $1 million dollars.
“It has always been our prayer for a resolution to this matter in which many lost their investments,” New Birth said in a statement. “Our hearts go out to anyone who suffered losses, and we pray for healing.”
Prosecutors said many victims transferred retirement savings to self-directed IRAs. Taylor had clients use specific trust companies, one in Ohio and another in New Mexico. However, Taylor actually controlled their IRA funds, prosecutors said. Taylor allegedly used the money to pay salaries and commissions, and personal expenses, and to pay earlier investors, prosecutors said.
The victims were also instructed that their funds were being used to invest in laundries, juice bars, gas stations and other small businesses, and in real estate, and that the promissory notes used would be extremely profitable. When the notes were due, the investors were encouraged to get new notes, which meant a delay in delivering proceeds on the notes.
“This case demonstrates the wide-reaching effects of fraudulent investment schemes, its impact on innocent victims, our northern Georgia communities, and the importance of cooperation among our law enforcement partners to suppress this type of criminal activity,” said Reginald Moore, Special Agent in Charge of the United States Secret Service Atlanta Field Office.
![Alleged scam artist Ephren Taylor and his wife, Meshelle Taylor, were confronted by ABC News cameras, according to an August 21, 2013, broadcast.]( "Alleged scam artist Ephren Taylor and his wife, Meshelle Taylor, were confronted by ABC News cameras, according to an August 21, 2013, broadcast.")
(Photo: ABC News screen grab)
Ephren Taylor, the self-proclaimed "social capitalist" and self-made millionaire accused of conning hundreds of Christians across the country out of millions of dollars, was recently spotted in Lenexa, Kan., outside a trendy massage parlor and apartment complex dodging news cameras along with his model wife.
![church ponzi scheme]( "church ponzi scheme")
After a tip-off from owners of Panacea Massage in Lenexa, an ABC News crew headed to Kansas to verify their suspicions that a masseuse named "Liz Taylor" and her shady husband might actually be alleged conman Ephren Taylor and his wife, Meshelle Taylor.
Taylor was charged in 2012 by the Securities and Exchange Commission (SEC) with running a Ponzi scheme that targeted socially conservative investors in church congregations. Two megachurches targeted by Taylor were Bishop Eddie Long's New Birth Missionary Baptist Church in Lithonia, Ga., and Joel and Victoria Osteen's Lakewood Church in Houston, Texas.
ABC News'"The Lookout" team not only verified the Taylors' identities, but secured old music video footage of the couple singing about being billionaires, and of Taylor telling congregants at Bishop Long's church during a wealth seminar "to give God a praise if you want to get paid." However, the SEC alleges that Taylor was the only one who got paid.
The 31-year-old businessman lied to his Christian investors about his plans to make big returns on their money and to designate some of the funds for charitable causes. Instead, according to federal authorities, Taylor used his City Capital Corporation from 2008-2010 to divert more than $11 million that had been entrusted into his care for personal and business expenses and to fund his wife's music career.
The SEC had previously reported that Taylor's whereabouts, and that of others involved with his alleged scams, were unknown.
According to ABC News' report published online Wednesday, the Taylors have been trying to live below the radar in Lenexa -- but their suspicious behavior recently gave them away.
According to staff at Panacea Massage, the Taylors were often overheard, despite their whispering, grieving their lost fortune. After security cameras were installed at the business, Taylor was reportedly overheard telling his wife, "Be careful what you say, 'cause there's audio and there's night vision."
When confronted by news cameras last week, the Taylors had nothing to say to their alleged victims -- not when they were spotted entering their vehicle outside an apartment complex and not when Mrs. Taylor was cornered trying to enter the massage parlor the following day.
ABC News'"The Lookout" ran two reports on Ephren Taylor. Part one focuses on how the son of a preacher carried out his alleged investment scams targeting Christians and churches across the country. Part two highlights how the Taylors' were busted hiding in Lenaxa, Kan. Watch both video segments below, or at abcnews.com.
Read related CP coverage on Ephren Taylor:
Bishop Eddie Long Sued by Former Church Members Over Investment Scheme
Eddie Long's Church Warned in Advance of Million-Dollar Ponzi Scheme?
US Megachurches, Hundreds of Christians Targeted in Ponzi Scheme?
In total, Taylor, the former chief executive officer of City Capital Corp. of Overland Park, Kan., allegedly duped mostly black churchgoers nationwide for more than $5 million.
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| Secrets of a thug Millionaire |
Ephren Taylor, former CEO of holding company City Capital, in guest appearance on CNBC's Big Idea circa 2007.
Investigators with the U.S. Secret Service and the IRS accused Taylor and co-conspirator Wendy Conner, the former COO of City Capital Corp., of swindling 80 investors in Georgia, including members of New Birth in Lithonia, out of at least $2 million during Taylor’s “Building Wealth Tour,” which allegedly targeted church congregations from April 2009 through October 2010.
New Birth and Bishop Eddie Long weren’t the only mega churches impacted. Members of Joel Osteen’s Houston-based Lakewood Church also invested with Taylor.
The U.S. Securities and Exchange Commission accused Taylor of running an $11 million Ponzi scheme, using investors’ money to pay off early investors and to hide investment losses.
Taylor turned himself in to federal authorites in Kansas City and is facing charges of conspiracy and money laundering as well as mail and wire fraud.
“Mr. Taylor came into our community, promising hard-working citizens a way to make their retirement money go farther,” said United States Attorney Sally Quillian Yates. “The investments he pitched proved to be worthless, along with his promises.”
Taylor, who called himself a “socially conscious investor” when he pitched his investment scheme to New Birth members, pleading not guilty in his initial court appearance. His next court appearance will be in Atlanta on June 27.
New Birth, led by embattled pastor Bishop Eddie Long who crafted a secret financial settlement in a sensationalized gay sex scandal just a year earlier, also made a confidential financial settlement with a dozen former members who said Long encouraged them to invest money with Taylor despite several warnings that the investor was running a capital deficit. The members said they lost more than $1 million dollars.
“It has always been our prayer for a resolution to this matter in which many lost their investments,” New Birth said in a statement. “Our hearts go out to anyone who suffered losses, and we pray for healing.”
Prosecutors said many victims transferred retirement savings to self-directed IRAs. Taylor had clients use specific trust companies, one in Ohio and another in New Mexico. However, Taylor actually controlled their IRA funds, prosecutors said. Taylor allegedly used the money to pay salaries, commissions and personal expenses, and made payments to earlier investors, prosecutors said.
The victims were also told that their funds were being used to invest in real estate, laundries, juice bars, gas stations and other small businesses, and that the promissory notes used would be extremely profitable. When the notes were due, the investors were encouraged to get new notes, which meant a delay in delivering proceeds.
“This case demonstrates the wide-reaching effects of fraudulent investment schemes, its impact on innocent victims, our northern Georgia communities, and the importance of cooperation among our law enforcement partners to suppress this type of criminal activity,” said Reginald Moore, Special Agent in Charge of the United States Secret Service Atlanta Field Office.
Ephren Taylor, the Kansas City man accused of scamming New Birth Missionary Baptist Church members out of millions of dollars of their retirement savings, has been arrested on a federal indictment charges.
In total, Taylor, the former chief executive officer of City Capital Corp. of Overland Park, Kan., allegedly duped mostly black churchgoers nationwide of more than $5 million.
Investigators with the U.S. Secret Service and the IRS accuse Taylor and co-conspirator Wendy Conner, the former COO of City Capital Corp., of swindling 80 investors in Georgia, including members of New Birth in Lithonia, out of at least $2 million during Taylor’s “Building Wealth Tour,” which allegedly targeted church congregations from at least April 2009 through October 2010.
New Birth and Bishop Eddie Long wasn’t the only mega church impacted. Members of Joel Osteen’s Houston-based Lakewood Church also invested in the scheme when they heard about it.
The U.S. Securities and Exchange Commission accused Taylor of running an $11 million Ponzi scheme, using investors’ money to pay off early investors and to hide investment losses.
Taylor turned himself in to federal authorites in Kansas City and is facing charges of conspiracy, mail and wire fraud and money laundering.
“Mr. Taylor came into our community, promising hard-working citizens a way to make their retirement money go farther,” said United States Attorney Sally Quillian Yates. “The investments he pitched proved to be worthless, along with his promises.”
Taylor, who called himself a “socially conscious investor” when he pitched his investment scheme before New Birth members, surrendered to federal agents and prosecutors in Kansas City, pleading not guilty in his initial court appearance. His next court appearance will be in Atlanta on June 27.
In a 2012 complaint, the U.S. Securities and Exchange Commission accused Taylor of running an $11 million Ponzi scheme mainly targeting African-American investors.
“It has always been our prayer for a resolution to this matter in which many lost their investments,” New Birth said in a statement. “Our hearts go out to anyone who suffered losses, and we pray for healing.”
Prosecutors said many victims transferred retirement savings to self-directed IRAs. Taylor had clients use specific trust companies, one in Ohio and another in New Mexico. However, Taylor actually controlled their IRA funds, prosecutors said. Taylor allegedly used the money to pay salaries and commissions, and personal expenses, and to pay earlier investors, prosecutors said.
The victims were also instructed that their funds were being used to invest in laundries, juice bars, gas stations and other small businesses, and in real estate, and that the promissory notes used would be extremely profitable. When the notes were due, the investors were encouraged to get new notes, which meant a delay in delivering proceeds on the notes.
“This case demonstrates the wide-reaching effects of fraudulent investment schemes, its impact on innocent victims, our northern Georgia communities, and the importance of cooperation among our law enforcement partners to suppress this type of criminal activity,” said Reginald Moore, Special Agent in Charge of the United States Secret Service Atlanta Field Office.
Ephren Taylor, Alleged Church Scammer, Found in Kansas Bemoaning 'Lost Fortune'
Businessman Accused by SEC of Ponzi Scheme Targeting Eddie Long, Joel Osteen's Congregants
By Nicola Menzie , Christian Post Reporter
August 22, 2013|12:04 pm
(Photo: ABC News screen grab)Alleged scam artist Ephren Taylor and his wife, Meshelle Taylor, were confronted by ABC News cameras, according to an August 21, 2013, broadcast.
After a tip-off from owners of Panacea Massage in Lenexa, an ABC News crew headed to Kansas to verify their suspicions that a masseuse named "Liz Taylor" and her shady husband might actually be alleged conman Ephren Taylor and his wife, Meshelle Taylor.
Taylor was charged in 2012 by the Securities and Exchange Commission (SEC) with running a Ponzi scheme that targeted socially conservative investors in church congregations. Two megachurches targeted by Taylor were Bishop Eddie Long's New Birth Missionary Baptist Church in Lithonia, Ga., and Joel and Victoria Osteen's Lakewood Church in Houston, Texas.
ABC News'"The Lookout" team not only verified the Taylors' identities, but secured old music video footage of the couple singing about being billionaires, and of Taylor telling congregants at Bishop Long's church during a wealth seminar "to give God a praise if you want to get paid." However, the SEC alleges that Taylor was the only one who got paid.
The 31-year-old businessman lied to his Christian investors about his plans to make big returns on their money and to designate some of the funds for charitable causes. Instead, according to federal authorities, Taylor used his City Capital Corporation from 2008-2010 to divert more than $11 million that had been entrusted into his care for personal and business expenses and to fund his wife's music career.
The SEC had previously reported that Taylor's whereabouts, and that of others involved with his alleged scams, were unknown.
According to ABC News' report published online Wednesday, the Taylors have been trying to live below the radar in Lenexa -- but their suspicious behavior recently gave them away.
According to staff at Panacea Massage, the Taylors were often overheard, despite their whispering, grieving their lost fortune. After security cameras were installed at the business, Taylor was reportedly overheard telling his wife, "Be careful what you say, 'cause there's audio and there's night vision."
When confronted by news cameras last week, the Taylors had nothing to say to their alleged victims -- not when they were spotted entering their vehicle outside an apartment complex and not when Mrs. Taylor was cornered trying to enter the massage parlor the following day.
ABC News'"The Lookout" ran two reports on Ephren Taylor. Part one focuses on how the son of a preacher carried out his alleged investment scams targeting Christians and churches across the country. Part two highlights how the Taylors' were busted hiding in Lenaxa, Kan. Watch both video segments below, or at abcnews.com.
Read related CP coverage on Ephren Taylor:
Bishop Eddie Long Sued by Former Church Members Over Investment Scheme
Eddie Long's Church Warned in Advance of Million-Dollar Ponzi Scheme?
US Megachurches, Hundreds of Christians Targeted in Ponzi Scheme?