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Samuel Ray Palasota, 52, of Houston, has surrendered to federal authorities following the return of a 24-count indictment alleging he operated a fraudulent real estate investment scheme and defrauded a woman of $650,000, U.S. Attorney Kenneth Magidson, reports

The sealed indictment charged Palasota with 21 counts of mail fraud and three counts of wire fraud.

According to the indictment, Palasota held himself out as a pastor and also claimed to manage a real estate investment program, doing business under the name “The Maker’s Resources.”

From in or about December 2008 through approximately December 2009, Palasota knowingly devised and intended to devise a scheme and artifice to defraud by means of material false pretenses, representations and promises, the indictment alleges.

Specifically, Palasota allegedly convinced a Mississippi woman to invest her money with him in an alleged real estate investment.


53-year-old Samuel Ray Palasota, was convicted for carrying out a religious-themed investment fraud scheme that targeted one female victim–causing a loss of $650,000.

According to an FBI report, Palasota was convicted of 21 counts of mail fraud and three counts of wire fraud; he was sentenced to 71 months in federal prison and three subsequent years or supervision.

Palasota’s victim, a Mississippi single mother with young children, looked to the pastor for emotional and spiritual advice as she went through a divorce. She testified that Palasota invited her to “invest” in a real estate opportunity. Palasota created a fake investment program called “The Maker’s Resources” and provided the victim with accompanying documentation that he drew up himself. The victim was promised a 40 percent return on an initial investment of $650,000.

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