Bishop Eddie Long ACCUSED Of Targeting Church Members With Ponzi Scheme
Bishop Eddie Long is facing more legal woes as he's been named in a high profile civil lawsuit claiming he encouraged some of his New Birth Missionary Baptist Church members to invest in a Ponzi scheme. Get the deets inside....
Bishop Eddie Long, the pastor of New Birth, who recently made headlines after it was revealed that a tell-all book is being written by the several young men who have accused him of sexual misconduct, is know being accused of financial misdoings. Shocker.
In a new civil lawsuit filed in the state of Georgia, 10 members of New Birth claim they were "coerced" into investing with Ephren Taylor Jr., the former chief executive of City Capital Corp. in Chicago. The members say they were "...promised 20 percent annual returns on safe investments," but instead, their money was diverted to a failing company."
Joseph Borg, the Alabama securities commissioner and a past president of the North American Securities Administrators Association, told the Wall Street Journal.
"I've seen more money stolen in the name of God than any other way. Seven out of 10 of our cases involve affinity fraud, and in the South, probably 40 to 50 percent have a religious angle."
Folks using Jesus as their hustle. It's real out here...