PBI - Preacher Bureau of Investigation 2012 All Rights Reserved
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Exposing The Greed In Our Pulpits
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Ponzi Schemes, Pastors, And Pews
Michael Winans Jr. Charged In Ponzi Scheme – Still Waiting On Ephren Taylor!
PimpPreacher.com 09/17/2012
Michael Winans of the world famous Winans Gospel Family is going to be charged and plead guilty to running a Ponzi scheme that stole over $8 million dollars from church members. In a case that is very similar to the scam at Bishop Eddie Long’s New Birth, Michael Winans used the pulpit to recruit church goers into a scheme that resulted in all of them losing every dime they invested.
The Federal Government has now prepared a case against Michael Winans for taking as much as $8 million dollars from over a thousand church members.
Marketing his scheme as a Saudi Arabian oil bond that was paying huge dividends, investors were given the impression that there was no way they could lose on the deal based on constant increases in the cost of fuel on the commodities market. Winans’ lawyer, William Hatchett of Pontiac, said Winans plans to plead guilty within the next 10 days and that he fully intends to repay investors.
Church congregations have proven to be a very lucrative fishing pond for scam artists like Michael Winans Jr. and Ephren Taylor, and much of that credit goes to the greedy pastors who allow these men access to their gullible followers.
As reported by Detroit Free Press - Michael Winans Jr. was charged Tuesday in U.S. District Court in Detroit with wire fraud, which carries a maximum penalty of 20 years in prison. He is accused of defrauding more than 1,000 investors of $1,000 to $7,000 each between October 2007 through September 2008.
“He wants to bring this to a speedy and just conclusion,” Hatchett said, adding that Winans wants to make sure everyone knows that other family members weren’t involved in the scheme said William Hatchett.
The Michigan Office of Financial and Insurance Regulation issued a cease and desist order against Winans in 2010, saying he used his connections to Detroit churches to lure investors into the scheme.
Joel Osteen & Eddie Long Should Refund Members After Investment Scam
The Church Folk Revolution (www.PimpPreacher.com) is still waiting for an arrest in the Ephren Taylor Ponzi Scheme which left members at Bishop Eddie Long’s church holding shares in fake shell corps that failed every audit imposed by the SEC, but no such arrest has been made up until now.
Bishop Eddie Long has made ever attempt to distance himself from Ephren Taylor after the fact, but months before the scheme was uncovered, he referred to Taylor as one of his closes friends.
Eddie Long wasn’t the only Pastor who allowed a scam artist into their pulpit, Joel Osteen’s also gave Ephren Taylor floor time at his Lakewood Church.
Anita Dorio in Texas first met Taylor in Joel Osteen's Lakewood Church, and gave Taylor $1.3 million, their life savings and her mother's retirement. And for about a year, they say it seemed like a good deal. At the beginning, Taylor was sending them monthly checks for $11,000.
According to ABC News they discovered that many of the businesses they thought they were investing in never even existed. Their lawyer Cathy Lerman said hundreds of investors have told her the same story.
"You will hear from investors, 'I spent $100,000 on a laundry in Kansas.' and then there'll be ten or 15 other people who also spent $100,000 on a laundry in Kansas," she said. "At the end of the day they had nothing to show for it."
Bishop Eddie Long, Joel Osteen, and every other pastor that has allowed their members to get scammed should return the loss revenue out of their own pockets, back to their members. All of these men consider themselves Pastors / Shepards of their “so-called” flocks, which is even more reason for returning the money that was stolen from their members.
In the tithe “storehouse” at Lakewood and New Birth is enough money to make these members whole without delay or future court proceedings, therefore the pastors of these congregations should take full responsibility for the financial losses of their members.
To view the actual SEC complaint against Ephren Taylor CLICK HERE
Church Folk Revolution
