Search



Comments

« URL : Atheist Meetups • Home • The Virgin spared his leg from amputation, and he vowed to devote his life to her »

The scheme promised pastors a huge return of $500,000 for every $3,000 a church contributed

• Wishful Thinking

A nationwide scam has defrauded black churches of at least $8.7 million, nearly three times what was first believed, the Securities and Exchange Commission alleged yesterday in court papers.

When it brought its civil case in Philadelphia Nov. 5, the SEC said Georgia businessman Abraham Kennard "fraudulently" induced more than 1,000 churches - the vast majority of them small African American churches - to contribute a total of $3 million toward a nonexistent Christian resort chain.
. . .
The SEC termed the case "affinity fraud." The agency said Kennard, who is black and says he has a divinity degree, used Christian language to gain the trust of the pastors. His pitch was alluring, the agency said, because many of the churches were small and indigent and had been unable to find conventional financing for their building projects.

Scam case involving black churches grows

Richard Evans Lee
November 21, 2002 •
BlinkList • del.icio.us • Digg it • Furl • ma.gnolia
RawSugar • Shadows • Simpy • Spurl • Yahoo MyWeb
Top↑

Comments

Iam one of the ministries that was in this scam.as the pastor of this church iam still in shock.and wondering if we will ever get our money back.we are a small church and sacrificed that money thinking we were going to build a church. also we have recieved very little information and updates on what is happening, the outcome about our 9000.oo we invested into this scam. dont they have bond money or some way of returning some of our funds. Pastor dorothy Strughter

Posted by: Pastor Dorothy Strughter | September 7, 2004 3:31 AM

How do you feel?

Feel free to share your feelings about The scheme promised pastors a huge return of $500,000 for every $3,000 a church contributed. Please stick to the theme of the entry. Disagreement is fine. Homophobia, racism, and kindred expressions of hatred will be deleted. This site is one of my hobbies. I genuinely enjoy hearing from people and hate moderating or killing comments. Forthright disagreement is fine as long as it is civil.
My thanks,
Richard

Monthly Summaries

March 2007, February 2007, January 2007, December 2006, November 2006, October 2006, August 2006, July 2006, June 2006, May 2006, April 2006, March 2006, February 2006, January 2006, December 2005, November 2005, October 2005, September 2005, August 2005, July 2005, June 2005, May 2005, April 2005, March 2005, February 2005, December 2004, November 2004, October 2004, September 2004, August 2004, July 2004, June 2004, May 2004, April 2004, March 2004, February 2004, January 2004, December 2003, November 2003, October 2003, September 2003, August 2003, July 2003, June 2003, May 2003, April 2003, March 2003, February 2003, January 2003, December 2002, November 2002, October 2002, September 2002, August 2002, May 2002, April 2002, March 2002,

Recent Posts



Thematic Archives

Powered by
Movable Type 4.0

Syndication


Edifying Spectacle
Index
Wishful Thinking
The scheme promised pastors a huge return of $500,000 for every $3,000 a church contributed
Top of page