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Bishop Eddie Long says Ephren Taylor took $1 million from New Birth
Atlanta Bureau - 01/31/2011
Bishop Eddie Long has just released a YouTube video stating that Ephren Taylor took One Million Dollars from members at New Birth Missionary Baptist Church. In yet another scandal involving New Birth Members and financial experts brought before the congregation by Bishop Eddie Long, Ephren Taylor of City Capital in now being accused to scamming New Birth members out of one million dollars.
In a YouTube video sent in to www.PimpPreacher.com Bishop Eddie Long is asking Ephren Taylor and City Capital to return the money that was invested by the members at New Birth. Only last month Bishop Eddie Long had to release another statement to address the issues with Matrix Capital which is also accused of scamming New Birth member out of $1500 in fee’s associated with a mortgage mitigation service.
It is unclear how many New Birth members were victimized as part of this latest scam targeting Long’s church but it has become very apparent that con artist have yet again swindled the congregation in the name of financial empowerment.
In a statement released by the Preach Bureau of Investigation, Bishop Eddie Long seem to have no concern for the financial safety of his members, only the commissions he would receive as a result of a few very slimy get rich quick deals.
“Here is yet another group of Bishop Eddie Long members that have been exploited by men within Long’s inner circle. In another deal gone bad, the members of New Birth are left to hold the bag on a series of bad investments. It’s not the role of the pastor to broker financial deals involving the private sector and the members of his congregation. Ephren Taylor should have never received the opportunity to scam these members, but then again New Birth is absent of a responsible Pastor.”
An attempt was made to contact Ephren Taylor but his listed number is no longer receiving incoming calls. Public records from City Capital post that Taylor resigned on October 22, 2010 and has since been replaced by Jeff M. Smuda. Smuda was elected chairman of the failing company shortly after Taylor’s resignation. According to their SEC, filing Jeff M. Smuda is an expert in restructuring companies to profitability.
Victims of this latest scandal are not only in New Birth but as far away as New Orleans.
A spokesperson for the Preacher Bureau of Investigations (PBI) says that if Bishop Eddie Long would have conducted a basic financial feasibility check of City Capital, with very little effort he would have discover alarming indicators prior to allowing Ephren to preacher from his pulpit.
“The reason Bishop Eddie Long has resulted to posting a Youtube video pleading for the return of his member’s investments is because Ephren Taylor is no longer answering his phone calls. As a matter of fact, Ephren Taylor has basically disappeared off the face of the earth with the life savings of many of the members of New Birth. Being That Bishop Eddie Long collects at least $250k per week, he should do the right thing and Bail-Out his members.”
The PBI says it was the endorsement of Bishop Long that convinced the members of New Birth to invest their retirement accounts with City Capital and Ephren Taylor.
“It was Bishop Eddie Long who introduced Ephren Taylor to his congregation. This type of irresponsible behavior should serve as a warning to all greedy pastors seeking to make commissions or referral fees from deals solicited to their members, they could get left holding an empty bag.”
Bishop Eddie Long maintains that he did not benefit from the investment made by his members and is simply trying to correct a deal gone bad.
"We found out later that some of our members had made some investments in IRAs and retirement accounts," said Long, as he looked into a camera. "And through that collectively, about $1 million has not been returned. The investment has gone sour."
Bishop Eddie Long says that Taylor appearance at his church was part of an financial empowerment lecture series which was the only involvement of the church.
"Please do what's right," Long said, apparently to Taylor. "You're a great fella, a great man. You do great things. Let's settle this so these families can move on."
Channel 2 Action News reporter Richard Elliot learned Taylor resigned as CEO of City Capital last year. Company stock, once worth $20 a share, now trades for a penny a share. The Better Business Bureau of Los Angeles gave City Capital an "F" rating and stated in a report, "complaints allege a pattern of unfulfilled agreements, failure to honor their money back guarantee and difficulty contacting the company."
For more coverage of the latest scandal involving Bishop Eddie Long please visit www.PimpPreacher.com
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