2 Georgia Men Indicted in $9M Church Scam
A monumental scam where two men tricked churches out of a piece of the plate at a time. For some struggling churches desiring the seemingly miraculous loan that the men promised, a loss of $3,000 could have drastic effects.
What allowances does the law provide for the injured parties to recoup their losses?
bq.. _ATLANTA – Two men have been indicted on charges of scamming about 1,600 churches out of nearly $9 million by promising to help secure grants and loans for a fee._
_Prosecutors said Tuesday that Abraham L. Kennard, 45, and R. Scott Cunningham, 52, used the money to pay for limousines, private jets, luxury cars and property. They face 91 counts in all, prosecutors said._
_According to prosecutors, the pair began a scheme in July 2001 in which they promised a forgivable loan or non-refundable grant of $50,000 for every $3,000 in fees a church or other non-profit paid their company._
_Churches in 41 states invested at least $8.7 million after the men’s company, called Network International Investment Corp., promised great returns, according to the Securities and Exchange Commission._
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p(small). Source: Yahoo!News (c) 2004 Yahoo! Inc. All rights reserved.
Filed under: Law
there are so many scams running on the internete so watch out:-:
there are so many scams running on the internete so watch out-*~
there are literally tons of scam on the internet today so watch out**”
there are literally tons of scam on the internet today so watch out:~-
internet scams are very rampant and there are also lots of newbie internet users who are getting scammed’.*
internet scams are very rampant and there are also lots of newbie internet users who are getting scammed-’.
i hate scams wheter it is offline scam or online scams, there are lots of it these days “;’