Religious morons continue to give their money away to crooked religious leaders, so-called “men of God.” In the meantime, these con artists become millionaires at the expense of the gullible masses seeking ‘salvation’. People never learn… TGO
Refer to story below. Source: Associated Press
SULLIVAN, Ind. – A judge sentenced a church financier to 54 years in prison Tuesday for pocketing millions of dollars that investors believed would be used to build churches.
Special Judge Dena Martin ordered former pastor Vaughn Reeves to serve consecutive six-year terms for each of nine fraud counts, in a scheme that cost about 2,900 investors $13.1 million. Among aggravating factors, Martin found Reeves targeted people over age 65 and used religion to influence them. Reeves’ attorney plans to appeal.
Investigators said Reeves, 66, and his three sons used their now-defunct company, Alanar, and sales pitches that included prayers and Bible passages to dupe about 11,000 investors into buying bonds worth $120 million secured by mortgages on construction projects at about 150 churches.
Instead, Reeves and his sons diverted money from new investments to pay off previous investors, pocketing $6 million and buying two airplanes, sports cars and vacations.
Prosecutors pointed to the case as a prime example of affinity fraud, in which scammers prey on people who share a common interest, such as religious affiliation, ethnicity or age.
Reeves’ sons are scheduled to go on trial in March.
