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Crook who scammed New Birth Missionary Baptist Church members for millions sentenced

EphrenTaylor

It is estimated that Black churches in the United States receive as much as $3 billion in donations annually. Ephren Taylor II, the CEO of City Capitol Corporation, wanted a piece of that money and he created a popular “Building Wealth Tour” seminar and investment plan. The problem was his plan was a giant pyramid scheme that defrauded churchgoers to the tune of more than $16 million.

Taylor targeted megachurches because of their large and giving congregations. In Atlanta, he went after perhaps one of the most famous churches in the city, New Birth Missionary Baptist Church under the leadership of Bishop Eddie Long. It is estimated that in Georgia alone he took in $2 million defrauding at least 80 people who had invested their life savings. Taylor’s plan consisted of getting people to use self-directed Individual Retirement Accounts to make investments that he controlled.

But his plan fell apart with the economic downturn of the country in 2010 and 400 victims lost their money. In October 2014, Taylor pleaded guilty to conspiracy to commit wire fraud. He was sentenced this week to 19 years and 7 months in federal prison and must pay more than $15 million in restitution.

An email from the acting U.S. Attorney John Horn stated, “Taylor’s ‘Building Wealth’ tour accomplished exactly the opposite, victimizing hundreds of investors and leaving many of them financially ruined. At churches across the country he touted himself as a socially conscious investor, but his investment opportunities were nothing but a Ponzi scheme designed to build his own personal wealth. This sentencing brings a measure of justice to those who remain devastated by his actions.”

His accomplice, Wendy Conner, received a sentence of five years in prison and must make restitution of more than $5 million.



6 Comments

  1. REALSOUL4 on March 18, 2015 at 8:47 am

    Another fake minster bite the dust….people stop giving these churches your money. The word of “GOD” is “FREE”! Read the word for yourselves and build a special relationship with “GOD”…if not you can easy be “Deceived”. Shame on this young man and woman!

    • Nigg.Newton on March 18, 2015 at 11:01 am

      I think you have it wrong. This crime was not because of religion, but because of US Federal Laws, and how they are written.

      This man did nothing different than any other Financial Consultant, except he failed to make money. Like a lot of BANKS, why didn’t they BAIL him out. The same thing happened to the INSURANCE industry and the US Government didn’t prosecute anyone!

      Black People stop thinking that we are doing things wrong, when it’s not our fault, we don’t get the same BREAKS as WHITE FOLKS!

      • REALSOUL4 on March 18, 2015 at 10:58 pm

        It was done in “GOD” house….he did nothing different? He deceived the elders out of their money “FOOL”. He broke the law, him and his partner…they did make money, and they got caught!

  2. honeybutter on March 18, 2015 at 1:22 pm

    haaaaa i find THIS FUNNY SO WHY IS EDDIE BISHOP IN JAIL CREFLO DOLLAR AND TD JAKES? they all defraud the church folks yearly neting millions ? eddie long being the worst , how do people still sit up in his church after he was busted haveing sex with men and minors for pay? atlanta has a gay saturated econonmy any thing you do down there is headed by some gay man ,expecially the churches i have friend who husband is a ordain minister , he dresses flamboyant , and now he is trying to open a church in atl . . but rumors are he hang out with gay men , she wanted a man so bad she conform with what ever he does … creflo dollar is a suspect DL .. and who better than them to cover it .. they have hundreds of fans .and not no fans for jesuse these women and men in the church are worshipping these mega ministers .. i predict its gonna all crash on htem in a few more years people gonna start seeing how ignorant they are feed the rich man . while they have nothing .. and a lot of rich folks go there and donate a lot of money . .so this guy in this story just saw i t as if your gonna let these ministers still your money,, then you will be believe me if i want to save it for you . … he capitoozed on the ignorant mind . .the mega ministers have already built ,,,,, even mississspii dont have church on every corner like atlanta does ..even small time crooks get out the pen and start up a store front church its a profit

  3. honeybutter on March 18, 2015 at 1:26 pm

    he is doing the same thing as merrill lynch is doing investing folks money? so why was he breaking the law ? cause he oviously wasnt paying taxes on this money and he was using the money for his own goods ,, if your collecting folks money you suppose to be growing it … thats like if i give you 20 dollars if you cant make it grow why would i give you 20 dollars

  4. Noff Memphis on March 19, 2015 at 6:38 am

    Common sense would have to me that he was a crook from the start. You take a “building wealth” seminar to a city civic center not to a church where you may deflect people from the main focus of church which is Jesus Christ. If Jesus turned over tables and ran the “money changers” out of the church what makes them think that this nicka shouldn’t have been ran out the church too? Church is for one thing and one thing only and that’s bringing souls to Jesus Christ to free them from the sins of this world.