Skip to main content

African American Churches scammed by one of their own. ‘Youngest-ever black CEO’ Ephren Taylor charged with fraud.


NEW YORK (CNNMoney) — Federal officials announced Thursday that they had charged a man who billed himself as the youngest-ever black CEO of a publicly traded company with running a Ponzi scheme.
The Securities and Exchange Commission alleged that Ephren Taylor II — a self-described “social capitalist,” author and entrepreneur — had defrauded investors in his firm of more than $11 million between 2008 and 2010.
Taylor’s City Capital Corporation (CTCC) targeted investors from African-American church congregations, telling them their money would go to support charities and businesses in poor communities, the SEC said. In reality, Taylor used it to operate his scheme and finance a lavish lifestyle, the agency alleged.
“He preyed upon investors’ faith and their desire to help others, convincing them that they could earn healthy returns while also helping their communities.”
“Ephren Taylor professed to be in the business of socially-conscious investing. Instead, he was in the business of promoting Ephren Taylor,” David Woodcock, director of the SEC’s Fort Worth regional office, said in a statement.
The SEC also charged City Capital Corporation and its former chief operating officer, Wendy Connor, with fraud. The agency, which cannot bring criminal charges, is seeking civil penalties and the return of ill-gotten profits. more at source  

Short URL: http://www.newsnet14.com/?p=100167

Comments

Popular posts from this blog

1914 Germany Afrikaner farmer Agreement

thank you Etienne 
translated from Afrikaner to EnglishTo all the people of the white race all over the world, most of all to the German nation: This is an important agreement Concerning the South African Boer people and the German nation. It has to do with an agreement between the Boer rebellion and the German troops in Southwest Africa. The Boer rebellion were lead by leaders of the Afrikaaner nation (General Manie Maritz, General SG Maritz, General Koss Delarey) and who’ll be fought against the English in the Second Anglo-Boer war from 1899 to 1902, where the Afrikaaner nation under hun president In Paul Kruger ulcers completely humiliated by the English when ze ulcers forced to sign the Treaty of Vereeniging in 1902. The atrocities committed against the Boers in the Concentration camps ulcers horriffic to say the least, and at least 30 000 Boer women and Children Were driven from hun farms Which Were torched under Lord Kitchener’s Scorched Earth policies. The attached files are an ima…

MS-13 and Los Zetas Drug cartels stealing millions of barrels of oil and taking over control of the drug trade.

Los Zetas vs Ms 13 from lastcombat.com Los Zetas is an armed criminal gang that operates as a hired army for the Gulf Cartel. The group is believed to be led by Heriberto “The Executioner” Castanon. Los Zetas, the Ninth CartelTuesday, May 18, 2010 |  Borderland Beat Reporter Buggs

Major pedophile Somali-Muslim sex gang busted in Minnesota and Tennessee.

In a series of arrests carried out Monday morning in the Twin Cities and Nashville, Tennessee, federal and local authorities broke up a human trafficking ring that provided underage prostitutes. A federal indictment unsealed Monday morning in Nashville details the sex trafficking operations of 29 Somali men and women tied to the Somali Outlaws, Somali Mafia and Lady Outlaws gangs, which are all connected and based in Minneapolis. Of the 29 indicted, 12 were arrested Monday morning in the Twin Cities, eight in Nashville and six were already in jail in various locations. Three remain at-large and wanted.MORE

 FBI-2011 National Gang Threat Assessment 2011 National Gang Threat Assessment – Emerging Trends
view printable version (pdf) The gang estimates presented in the 2011 National Gang Threat Assessment (NGTA) represent the collection of data provided by the National Drug Intelligence Center (NDIC) through the National Drug Threat Survey, Bureau of Prisons, State Correctional Facilities, …