Black Spirituality Religion : SEC says churches lost millions to scam The lure of big paybacks enticed more than 1,000 to invest $

Clyde C Coger Jr

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In the Spirit of Sankofa,




... :wow: Abraham Kennard, truly, a hireling... smh



1251647139kennard2.jpg

Abraham Kennard

Which prompts Kennard's lawyer to wonder aloud: What were those preachers thinking?
"You put in $3,000 and get a half-million-dollar grant?" Scott said. "It almost defies belief."


SEC says churches lost millions to scam The lure of big paybacks enticed more than 1,000 to invest $8.7 million. Only $300,000 has been found.


By Jim Remsen and Larry King INQUIRER STAFF WRITERS
POSTED: November 24, 2002



His entrances could be grand: a short, dapper man in a white limousine, two burly aides at his side.
Abraham L. Kennard cast himself as an entrepreneurial man of God, out to raise big bucks for his brethren, that they might better spread the Word. From small Sunday services to regional assemblies, he sold preachers his vision, making it glitter before them like the gold tooth that flashed when he spoke.
For about 40 black churches in this area and more than a thousand others across the country, Kennard seemed a godsend.
http://articles.philly.com/2002-11-...hes-church-funding-project-mark-anthony-scott



Pastor Scam Churches Out Of $9 Million (Part 1)





Peace In,
 
In the Spirit of Sankofa,




... :wow: Abraham Kennard, truly, a hireling... smh



1251647139kennard2.jpg

Abraham Kennard




SEC says churches lost millions to scam The lure of big paybacks enticed more than 1,000 to invest $8.7 million. Only $300,000 has been found.


By Jim Remsen and Larry King INQUIRER STAFF WRITERS

POSTED: November 24, 2002



His entrances could be grand: a short, dapper man in a white limousine, two burly aides at his side.
Abraham L. Kennard cast himself as an entrepreneurial man of God, out to raise big bucks for his brethren, that they might better spread the Word. From small Sunday services to regional assemblies, he sold preachers his vision, making it glitter before them like the gold tooth that flashed when he spoke.
For about 40 black churches in this area and more than a thousand others across the country, Kennard seemed a godsend.
http://articles.philly.com/2002-11-...hes-church-funding-project-mark-anthony-scott



Pastor Scam Churches Out Of $9 Million (Part 1)





Peace In,



Coger you picked the word out of my mouth...HIRELINGS....these are just that.
 
Coger you picked the word out of my mouth...HIRELINGS....these are just that.



Here's another one dunwiddat, only this one is well known, Michael Winans, Jr., nephew to the famous gospel singers, BeBe and CeCe Winans, smh. Michael had 1,000 folk, who paid him 8 million dollars to invest in Saudi Arabian crude oil bonds, wow :wow:

Winans did at one point learn that the crude bonds were fake, but went on collecting money from investors, WDIV-TV reports.


michael-winans-jr.jpg


Michael Winans Jr. is seen in this undated photo he shared on his Facebook page.
Read more at http://www.christianpost.com/news/michael-winans-jr-to-serve-14-years-for-8m-scheme-targeting-churches-90976/#ATqEbHGfukFbDzgA.99

Michael Winans Jr. to Serve 14 Years for $8M Scheme Targeting Churches

Michael Winans Jr., of the popular Gospel-singing Winans family, was sentenced this week to nearly 14 years in prison for taking advantage of "good, decent church-going people" in an $8 million ponzi scam carried out in Christian churches.
"Fraud on good, decent church-going people – that was very, very troubling to me," said U.S. District Judge Sean Cox in a Detroit, Mich., federal courtroom on Wednesday.




Peace In,,
 
Here's another one dunwiddat, only this one is well known, Michael Winans, Jr., nephew to the famous gospel singers, BeBe and CeCe Winans, smh. Michael had 1,000 folk, who paid him 8 million dollars to invest in Saudi Arabian crude oil bonds, wow :wow:


michael-winans-jr.jpg


Michael Winans Jr. is seen in this undated photo he shared on his Facebook page.
Read more at http://www.christianpost.com/news/michael-winans-jr-to-serve-14-years-for-8m-scheme-targeting-churches-90976/#ATqEbHGfukFbDzgA.99

Michael Winans Jr. to Serve 14 Years for $8M Scheme Targeting Churches

Michael Winans Jr., of the popular Gospel-singing Winans family, was sentenced this week to nearly 14 years in prison for taking advantage of "good, decent church-going people" in an $8 million ponzi scam carried out in Christian churches.
"Fraud on good, decent church-going people – that was very, very troubling to me," said U.S. District Judge Sean Cox in a Detroit, Mich., federal courtroom on Wednesday.




Peace In,,

All I can do is SMH. Folks need to invest their money in real estate...property that can be rented out instead of trusting these crooks. I thought people would have learn from Allan Standford...but then again religious folks are the MOST naive and trusting....I think 14 years is not enough.
 
All I can do is SMH. Folks need to invest their money in real estate...property that can be rented out instead of trusting these crooks. I thought people would have learn from Allan Standford...but then again religious folks are the MOST naive and trusting....I think 14 years is not enough.


We touch and agree ...


Peace In,

 

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