Atlanta megachurch pastor Bishop Eddie Long is facing a lawsuit from former parishioners who say 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., filed suit in DeKalb County court in late January. The suit says that 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 more than $1 million 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.

“We remain hopeful that Ephren Taylor and companies related to him restore the funds that were taken from congregants at New Birth and churches around the county,” New Birth said in a statement. “We continue to cooperate as the case proceeds.”

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 he received after speaking to churches, including New Birth, 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.

Long previously faced another suit from young men who accused him of using gifts and money to coerce them into sexual relationships. He settled those cases in May 2012.

6 thoughts on “Bishop Eddie Long Sued over Ponzi Scheme

  1. Pingback: News Media Source, Urban Search Engine Founded From A Hip Hop Site Based On World News, Entertainment News And Celebrity Gossip » Bishop Eddie Long Sued Over Ponzi Scheme

  2. GOOD! aint he suppose to be their ‘spiritual–father’? as long as there are ZOMBIES following men/women like this then there are many more lawsuits in the making……but I have to say to— no better for them! and while they suing they need to get back some of their ‘tithe’ money too! so sad that people are so gullible…the money makers of today s society are POLITIANS, PROSTITUTES AND PASTORS….I can bet you that he did not loose one penny? that should have let them know something right there—he encouraging his ZOMBIES to do something he AINT doint??????? hummmmm

  3. 55th st silverbacks on said:

    your spiritual relationship with the creator must be one that you have estabilished, the idea that a man can read and interpret for you makes no sense ,I AM NOT CHURCH BASHING. because i believe the few that pray together are what hold us all together. but with a personal relationship u can reach goals that no man can assist with.these men may have good intentions to start , however when the use the expression “you must be called” to serve the lord it is true.

  4. Wow! This is a total shock- you mean to tell me this guy who was allegedly having relations with young men, is now allegedly involved in a scandal such as a Ponzi Scheme. A total shock- not!!!!

  5. Rick Ayers (Cousin, to Roy Ayers) on said:

    I’m just wondering here……I am not a big follower, of Bishop Eddie Long, or any of these Mega-church pastors. But, I have to ask…..with all of the negative, and legal mis-dealings that I read about this Bishop Eddie Long, recently, I have to wonder: who made this guy, a Bishop, in his faith, anyway??? I mean, a lot of these human mis-behaviors, don’t just show-up, all that suddenly. These people, if they are behaving badly, have been doing so, for a little while, most of the time. And, because of their stature in some organization, they are good at getting people who suspect their motives, to mummy-up, or not drop a dime, on them, until some big doo-doo hits the fan.

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