Thirteen members of the New Birth Missionary Baptist Church managed to recoup some of their monetary investments in a civil suit against controversial Bishop Eddie Long and alleged Ponzi scheme financial guru Ephren Taylor. The victim’s settlement was kept under wraps and neither Long nor Taylor have admitted to any wrongdoing, according to My Fox Atlanta.
The former parishioners accused Long of prodding them in to investing in a company that was operating the alleged Ponzi scheme. After Long introduced Taylor as his “friend and brother,” the congregants reportedly lost more than $1 million investing in the self-described “social capitalist’s” nonexistent ventures.
The Securities and Exchange Commission (SEC) charged Taylor in 2012 with running a Ponzi scheme. SEC officials said he promised to use investments for charity and to assist blighted areas, but instead he allegedly took the monies he received to pay other investors and finance other business ventures. Taylor also took the investor’s monies to cover personal expenditures like bankrolling the payroll for his own companies and paying rent.
The SEC contends that Taylor raised more than $11 million over a two-year period from 2008 to 2010 from New Birth and other churches around the county. He is also alleged to have targeted more than 1,000 investors, most of whom were hard-working people who had saved all their lives.
Taylor had reportedly issued a promissory note informing the New Birth members that he was investing their money in real estate, guaranteeing a 20 percent return.
When news of the Ponzi scandal broke, Long released a video of himself pleading with Taylor to “do the right thing” and to confront the accusations of fraud. According to Jason Doss, attorney for the former New Birth church members who sued, though, “If Bishop Eddie Long hadn’t endorsed this they wouldn’t have invested,” he told the Atlanta Journal-Constitution last year.
Long, who was involved in a scandalous lawsuit involving four young men who accused him of sexual coercion, did not invest in Taylor’s business venture.
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This Week’s Celebrity Instagrams (10/7-10/14)
25 photos Launch gallery
1. Nite | to the tune of @cnn 😞
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2. Got so much work to do but I just wanna stay in bed and binge watch #Gameofthrones and start the new season of #OnceUponATime. I know I can't be the only one. Right? Ha 💤🦁🍂 #saturday
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3. Mommy's weekend turn up ❤️👶🏾💕🍼 Wouldn't trade it for nothing. #TeamNoSleep lol #HesMyBiggestBlessing ✨
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4. One of them oh shit mont we made it feelings … this shit still be unreal 💯💪🏾 @remyboymonty1738
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5. Tickets Available October 14 @ticketmaster.
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6. People magazine Home edition has raided my house! Get a sneak peek into the bedroom life of the Leakes and see other parts of my home now at PEOPLE.COM
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7. They want to kick you when you down, but kick it when you up
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8. Got my advance copy of #Mafia3 at @gamestop. Get yours via link in the bio #Mafia3 #Ad
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9. This is some of the cast and our diverse team of writers in the writer's room creating funny sh*t for @nbcmarlon what a fun room! Lots of jokes, great stories and having a great time doing what we love... making people laugh and feel something. Look out for our show next year @nbcmarlon we bringing sitcoms back to NBC
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10. #HappySunday☀️Thank you @4everbrandy101 💛💡💛
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11. Happy to be back in Central Falls, RI breaking ground for the One Stop Health Center and hosting a local community event with #Vaseline.
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12. Thank you all in advance 💋💋💋 #Repost @urbansvintage・・・#TarajiPHenson's memoir #AroundTheWayGirl will be available everywhere TODAY October 11th! Will you be purchasing a copy? #UrbansVintage
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13. Moms got my back
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14. @galore dinner party glo ✨ thanks to @styledbygiigii
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15. 🌹#ThisIsWhatTheTruthFeelsLikeTOUR #forevereve
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16. Yes, all those videos I've been posting have led to this: the introduction of skincare to @TYRABeauty! This is the rundown on the new line:Years of research and beauty tips I live by led me to produce the most effective and delightful skincare out there. I'm all about taking really good care of my skin, so I can look like I'm aging in #TyraYears and go filter free on Instagram when I feel like it! Now, it's your turn. ✨My Mama always told me not to wash my face with just my hands. "Tyra, girl, you're just moving the dirt around!" And I've listened. First up is The Clean Machine.... ...a 3-in-1 foaming face wash that cleanses, removes makeup and purified your skin. It has patented technology - a attached Turbo Cleansing Tool - to give you that deep clean that makes your skin feel super fresh. Wanna know more? Yeah, baby. Click that link in my bio.
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17. On set of #beingmaryjane like... ❤️😬💃🏾
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18. #carouselofhope@yvetteshelton100@makeupbylatrice @thestacetheface@marialuciahohan24
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19. I refuse to let a little cold stop me from my daily routines to greatness. #onlythestrongsurvive #warriors
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20. Big things begin with big THINKING... #BusinessEthics #SetLife 🎥
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21. Goodnight - here's a song
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22. Words can't explain the feeling that I have right now.....God is good. look momma I made it. #Harts #Blessed #WhatNow #comedicrockstarshit #4DaysAway
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23. I tried to get a better video with out the nasty bib but she started getting mad at me..lol! Big cuz @the_queen_caitlin trying to show her what to do. #MamasToots #HeirBear👑💜
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24. Gorgeous Serena joined Beyoncé in Formation last night on stage in New Jersey!!!
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25. 😜 @lifeofdesiigner & @rockohill
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