Showing posts with label New Birth Missionary Baptist Church. Show all posts
Showing posts with label New Birth Missionary Baptist Church. Show all posts

Jul 19, 2014

Ephren Taylor Accused of $11 Million Christian Ponzi Scheme by SEC

May 8, 2012
Steve Osunsami and Katie Hinman
NIGHTLINE

Ephren Taylor stepped into the pulpit with the ease of preacher's son, taking the microphone at the New Birth Baptist Church in Atlanta, where the powerful pastor Eddie Long was introducing him to the Sunday morning crowd.

"Everything he says is based on the word of God," Long pledged to the members of his megachurch. But Taylor wasn't a visiting minister. He was a financial adviser, one who claimed to have made his first million before he turned 18. And he promised he could do the same for his fellow Christians.

"We're going to show you how to get wealth and use it for the building of his kingdom," Taylor shouted to the congregation one morning in 2009. It was all part of what he called his "Building Wealth Tour," which crisscrossed the country touting his investments and financial advice.

On the Hunt for Alleged Church Ponzi Schemer

June 18, 2014

Part 2: After alleged victims say Ephren Taylor disappeared, ABC News tracked him down in Kansas.

Transcript for On the Hunt for Alleged Church Ponzi Schemer

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We're back with a special edition of "Nightline. " Ephron Taylor was the son of a preacher who told believers he could revolutionize their finances, but then it all went very wrong, so what would he say when "Nightline" caught up with him and his wife? Here's ABC's -- again.

Reporter: There was this Ephren Taylor. The man in the music video celebrating the high life starring his wife. 

I do what I want ?   I move like a billionaire ?

And then there was this Ephren Taylor. I tell you, are you broke? You can't make no money.

Reporter: Who preached faith-based investing to churches across the country. You want to get paid this morning? Somebody raise their hand and give god the praise if you want to get paid this morning.

Alleged Church Ponzi Schemer Arrested on Federal Fraud Charges

June 17, 2014
ABC News via NIGHTLINE

Ephren Taylor, once a financial adviser to congregants from some of the most prominent mega-churches in the country, was arrested today on federal fraud charges.

The Department of Justice announced in a news release that Taylor, 31, was arrested on a federal indictment charging him and his business partner with “defrauding investors across the country of more than $5 million.”
The charges allege that Taylor, the former CEO of City Capital Corporation, and the company’s former COO Wendy Connor “participated in a conspiracy to defraud investors” between April 2009 and October 2010, and allegedly managed to defraud “hundreds” of people nationwide, according to the DOJ.

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Taylor surrendered to the U.S. Secret Service in Kansas City, Mo., this morning following an arrangement with the agents handling the case. A court date has yet to be announced.

Mar 10, 2013

Atlanta megachurch pastor Bishop Eddie Long ‘preyed upon investors’ faith’

Religion News Service
March 9, 2013

Atlanta megachurch pastor Bishop Eddie Long is facing a suit from former parishioners who say they lost more than $1 million after he encouraged them to invest in a company that was operating an alleged Ponzi scheme.

A dozen former members of New Birth Missionary Baptist Church in Lithonia, Ga., contend Long’s assistant had been warned that businessman Ephren W. Taylor was running a $3 million capital deficit, The Atlanta Journal-Constitution reported.

After Long introduced the businessman as his friend, the former New Birth members lost their money investing with the self-described social capitalist.

“If Bishop Eddie Long hadn’t endorsed this they wouldn’t have invested,” Jason Doss, attorney for the former members, told the Journal-Constitution.

Long’s church has urged Taylor to repay investors with interest.

The Securities and Exchange Commission charged Taylor in 2012 with running a Ponzi scheme, and a civil case against him is pending. SEC officials said he promised to use investments for charity and to help economically challenged areas but instead diverted the funds from members of churches to pay other investors and finance business and personal expenses.

“He preyed upon investors’ faith and their desire to help others, convincing them that they could earn healthy returns while also helping their communities,” said David Woodcock, director of the SEC’s Fort Worth Regional Office in Texas.

Aug 11, 2008

25 students got no-good degrees from New Birth campus

Christopher Quinn
Atlanta Journal-Constitution
August 11, 2008


Twenty-five students who attended a satellite program of North Carolina Central University at Bishop Eddie Long's Lithonia megachurch earned bachelor's degrees that are not recognized by the school's accrediting agency.

A school spokeswoman said 39 other students were in the program earlier this year when it was shut down.

Long and the school, in Durham, started the satellite campus four years ago. They closed it in June after the Southern Association of Colleges and Schools learned of it, reviewed the program and refused to sanction it. All extension programs have to be approved by SACS for degrees to be recognized.

Tom Benberg, chief of staff at the Commission on Colleges at SACS, said any degrees earned in the program at New Birth Missionary Baptist Church, "would not be a degree from an accredited operation."

Long released a statement saying the church has partnered with various education programs to hold classes at the church.

"Regrettably, the university did not seek appropriate approvals at that time prior to launching the program. Last month [SACS] denied approval for NCCU to continue the program offerings at the New Birth site."

Long said the church and the school are continuing to work toward getting the program recognized by SACS so it can continue.

Long is a graduate of NCCU, a school trustee and announced a $1 million gift to university last week.

The University of North Carolina system, of which NCCU is part, learned of the program last week, according to a spokeswoman. The program should have been vetted by the system's board of governors.

Erskine Bowles, president the University of North Carolina system, said in a written statement, "I can think of no justifiable reason why the former NCCU leadership would have completely ignored and failed to abide by the appropriate approval process in creating this program. Such action is contrary to all university policy."
Bowles continued, "This circumstance is one of many problems Chancellor [Charlie] Nelms inherited when he arrived last year, and he has managed each of them professionally and effectively."
The university system and the staff at NCCU are investigating the situation and trying to answer the legal and academic questions caused by it, said Joni Worthington, vice president of communications at UNC.
The school and Long's church tried to get the program approved ex post facto, but SACS denied their request in June.

A SACS report said the program did not prove that faculty was qualified or that it had adequate library and learning resources. The program was unable to measure whether students were adequately leaning the subject matters and it did not provide an adequate financial statement from the program.

NCCU provided The Atlanta Journal-Constitution a list of 11 NCCU faculty members who taught in the program, all of whom had graduate degrees. However, four were listed as non-compliant because they had no graduate course work in the classes they were teaching. The university paid the teachers and their travel expenses.

The program also had adjunct faculty members from the Atlanta area.

The college offered business, criminal justice and hospitality degrees at New Birth. The program began under then-Chancellor JamesAmmons of NCCU, who left to become president of Florida A&M University in 2007.

Calls and an e-mail Monday morning to Ammons were not returned. Ammons was engaged in board meetings there, an A&M spokeswoman said.

A statement from Chancellor Nelms at NCCU denied responsibility for the program. A university spokeswoman referred questions to Kimberly Phifer-McGhee, director of distance education at NCCU.

Phifer-McGhee said she did not know why or how the program started, did not know how much the university paid to run the program, or why SACS was not notified of it.

"I was not part of the leadership," she said.

She said that faculty members had degrees, but may not have had course work to teach what they were teaching at the school.

The university is trying to work out a program that would allow current students to remain in school in good standing, she said.

Benberg said that SACS would not likely recognize the degrees already awarded.

"I am not aware that we have ever done that," he said.

http://www.ajc.com/metro/content/metro/dekalb/stories/2008/08/11/long_college_degrees.html?cxntnid=amn081208e