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

Discussion in 'Black Spirituality / Religion - General Discussion' started by Clyde C Coger Jr, Apr 2, 2013.

  1. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    In the Spirit of Sankofa,




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



    [​IMG]
    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,
     
  2. dunwiddat

    dunwiddat Well-Known Member MEMBER

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    Coger you picked the word out of my mouth...HIRELINGS....these are just that.
     
  3. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    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:


    [​IMG]

    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,,
     
  4. dunwiddat

    dunwiddat Well-Known Member MEMBER

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    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.
     
  5. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    We touch and agree ...


    Peace In,

     
  6. cherryblossom

    cherryblossom Banned MEMBER

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    This was over 10 years ago; and his victims still feel this pain, I'm sure.

    But, at least he was convicted and sentenced to 17.5 years.

    However, unfortunately, the victims will never see the restitution from HIM; but GOD can and will restore and bless over abundantly.
     
  7. cherryblossom

    cherryblossom Banned MEMBER

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    .... 17.5 years WITH NO CHANCE OF PAROLE!



    ....If only they'd give the same to serial killers, rapists and child molesters.
     
  8. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Sister, we too touch and agree...


    Peace In,
     
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