Be Careful the next time a preacher offers you a get rich scheme because you may end up broke and swindled like the many you will hear in this story. The US Attorney’s office in Atlanta said Ephren Taylor II and a second defendant have been arrested on federal indictment, which says they were involved with defrauding investors from across the nation of more than $5 million. “Mr. Taylor came into our community, promising hard-working citizens a way to make their retirement money go farther,” said United States Attorney Sally Quillian Yates in a statement released Tuesday. “The investments he pitched proved to be worthless, along with his promises.” According to the indictment, from at least April 2009 through October 2010, Yates, then CEO of City Capital Corporation, along with his co-defendant Wendy Connor, former COO of City Capital Corporation, participated in a conspiracy to defraud hundreds of investors of more than $5 million nationwide. The indictment said Taylor, 31, of Overland Park, KS, traveled around the nation on a “Building Wealth” tour, where he gave so-called wealth management seminars to congregations at churches. Taylor claimed to be a socially conscious investor and claimed that 20 percent of the profits of his venture were being donated to charity. One of the churches on Taylor’s tour was New Birth Missionary Baptist Church in Lithonia, where Taylor and Connor met with potential investors. Over 80 people from the state of Georgia alone lost more than $2 million due to Taylor’s scheme. Take time to view the three part video and always check out the people that you do any financial investments. Part 1 Part 2
