Kirbyjon Caldwell, the former pastor of Windsor Village United Methodist Church in Houston, Texas, pled guilty to fraud in March 2020. Gregory Alan Smith helped Kirbyjon Caldwell deceived investors out of millions of dollars. He and Smith defrauded investors into buying Chinese bonds that were really worthless.
Caldwell and Smith raised 3.5 million from the scheme, while investors received…
North Carolina Securities Division July 2015 Newsletter
North Carolina Securities Division July 2015 Newsletter
July 2015- Raleigh, North Carolina
The North Carolina Securities Division of the Department of the Secretary of State issues a monthly newsletter highlighting recent enforcement actions for securities violations and other matters designed to educate and protect investors.
The July 2015 Securities Newsletter, which can be accessed here, includes the following:
Man who stole millions from Atlanta church members pleads guilty
Man who stole millions from Atlanta church members pleads guilty
The members of New Birth Missionary Baptist Church finally have a modicum of closure after being bilked out of their life savings from a so-called financial expert. The man who swindled millions out of New Birth members in a crooked investment scheme pleaded guilty in federal court in Atlanta.
Ephren Taylor, 32, the former CEO of the now defunct City Capital Corporation, ripped off $7 million on…
***BREAKING NEWS*** Church Scammer Ephren Taylor Pleads GUILTY in Federal Court!
PimpPreacher.com Atlanta Bureau 10/09/2014
As reported by ajc.com, Ephren Taylor -- who targeted church groups across America through his “Building Wealth” tours -- pled guilty Wednesday in federal court to defrauding hundreds of victims of their retirement savings.
Claiming to be a socially conscious investor giving wealth management seminars to church congregations, Taylor took in more than $7 million nationwide.
Taylor's sentencing is scheduled for December 18, 2014 at 2:30 p.m.
Stay tuned to PimpPreacher.com for more updates and our Twitter Page for more Breaking News.
Ephren Taylor's Faith-Based Scam On Church Members
Ephren Taylor’s Faith-Based Scam On Church Members
The Ephren Taylor Ponzi scheme that preyed upon church goers nationwide should serve as a great warning to just how out of hand Affinity Fraud on church members can get.
Ephren Taylor,31 , was charged in 2012 by the SEC for operating a Ponzi scheme that swindled over $11 million, primarily from African-American churchgoers. Through his “Building Wealth Tour” he delivered faith based investing…
Ephren Taylor Arrested For Stealing Millions From Church Members: Could Bishop Eddie Long Be Next?
Ephren Taylor "The Black Barnie Madoff" Is Now Behind Bars For New Birth Ponzi Scheme
PimpPreacher.com Atlanta Bureau 06/18/2014
Well it has finally happened – Ephren Taylor has been arrested on a Federal Indictment for defrauding investors out of more than $5 Million. If you’re new to PimpPreacher.com then you make have missed our coverage on how Bishop Eddie Long allowed Ephren Taylor to pitch a Ponzi Scheme from the pulpit of the church, thus scamming several members out of over $1 million.The Federal District Attorney said in a press conference that more indictments will follow the arrest of Ephren Taylor.
As covered by WSBTV
A Kansas man accused of defrauding Georgia churchgoers, including members of New Birth Missionary Baptist Church, during his “Building Wealth Tour” has been arrested on a federal indictment, the U.S. Attorney’s Office in Atlanta announced Tuesday.
Ephren Taylor II, at the time chief executive officer of City Capital Corp. of Overland Park, Kansas, is accused of defrauding investors of more than $5 million. Prosecutors also named Wendy Connor, the former COO of City Capital, as a co-conspirator.
Prosecutors said more than 80 investors in Georgia, including members of New Birth in Lithonia, lost at least $2 million during Taylor’s wealth management seminars, which allegedly targeted church congregations from at least April 2009 through October 2010.
The U.S. Securities and Exchange Commission accused Taylor of running a Ponzi scheme, using investors’ money to pay off early investors and to hide investment losses.
New Birth, headed by Bishop Eddie Long, reportedly reached a confidential financial settlement with a dozen former members who said Long encouraged them to invest money with Taylor despite being told the investor was running a capital deficit. The members said they lost more than $1 million dollars.
Efforts were being made to reach New Birth for comment on the latest developments. In a Channel 2 Action News report last year, Long referred to Taylor as “my friend, my brother, the great Ephren Taylor.”
A federal judge in Atlanta last year also concluded Taylor and his former company must repay former investors more than $14.5 million, including interest.
Taylor allegedly persuaded members to invest retirement savings in promissory notes used supposedly to fund small businesses and to invest in “sweepstakes machines.”
“The investments he pitched proved to be worthless, along with his promises,” U.S. Attorney Sally Quillian Yates said Tuesday in announcing Taylor’s arrest.
Prosecutors said many victims transferred retirement savings to self-directed IRAs. Taylor and others, however, actually controlled the IRA funds and used the money to pay business and personal expenses, and to pay earlier investors, prosecutors said.
Investors were told their funds were being used to invest in laundries, juice bars, gas stations and other small businesses, and that the promissory notes used would be profitable.
Taylor also pushed investments in computerized “sweepstakes machines” loaded with various games that allow players to win cash prizes. He allegedly claimed the machines were 100 percent risk free and that the average machine generated 300 percent investor returns.
Prosecutors said Taylor falsely reported revenues and returns from the investments, and falsely claimed 20 percent of profits were donated to charity.
New Birth released the following statement Tuesday afternoon:
“It has always been our prayer for a resolution to this matter in which many lost their investments. Our hearts go out to anyone who suffered losses, and we pray for healing.”
Top 5 Pastor Scams #1 Bishop Eddie Long & Ephren Taylor Laundromat Casino Scam
Eddie Long is so awful as a Pastor, that it's unfair to have him go head to head with other Pimp Preachers.
The Bishop Eddie Long / Ephren Taylor scam was truly one for the ages, a made for TV movie, a Thriller! Staring in one of the greatest Church Scams of all times was the “Black Bernie Madoff” Ephren Taylor and his co-star Bishop Eddie "Settle It" Long.
Together they convinced the members at New Birth Missionary Baptist church to invest in what appeared to be illegal gambling venues, disguised as Laundromats. Many of Taylor's accusers say that they entrusted him with their money following his visits to their church, promises of guaranteed financial returns from investments in ventures, namely real estate, but it all turned out to be nothing more than a smoking mirror, and a rabbit in the hat.
As predicted with any Ponzi scheme Ephren Taylor disappeared with all the dumb church folk’s money, and Bishop Eddie Long found himself settling another lawsuit from members of his church. The Bishop Eddie Long / Ephren Taylor scam is a prime example of what can happen when a Pastor allows financial predators to come into their church, and prey on the congregation. When ABC news tracked down the Ephren Taylor, nothing about their current life style says they could afford to pay back the $11 million dollars they own investors.
The fact that Eddie Long continues preach to a packed out church is proof that he can still accumulate a lot dummies under one roof. Pimp On - Eddie Pimp On!
Reports are coming in that Ephren Taylor who scammed members at Bishop Eddie Long’s New Birth Church out of millions has been located in Kansas working at a massage parlor. For almost a year investors who lost everything to the Ephren Taylor / Bishop Eddie Long were trying to locate the man that was endorsed by their own Pastor as a righteous man of God.
