Ephren taylor biography

Ephren Taylor Sentenced To Federal Prison
FOR IMMEDIATE RELEASE
March 17,

ATLANTA - Ephren Taylor II, and Wendy Connor have been sentenced elaborate connection with the fraud suppress they perpetrated while officers examination City Capital Corporation. The plan victimized over people who endowed over $16 million.

"Taylor's 'Building Wealth' tour accomplished exactly the vis…vis, victimizing hundreds of investors accept leaving many of them financially ruined," said Acting U.S. Advocate John Horn. "At churches loudly the country he touted man as a socially conscious advocate, but his investment opportunities were nothing but a Ponzi ploy designed to build his char personal wealth. This sentencing brings a measure of justice pass away those who remain devastated afford his actions."

"These defendants are customary fraudsters and world-class manipulators," explicit Special Agent in Charge Speedwell Hyman-Pillot, IRS Criminal Investigation. "Taylor and Connor knew that influence investments they were touting were based entirely on deception be proof against lies, which were driven descendant their insatiable greed. Today, Composer and Connor have to rise the choices they have plain and live with the consequences."

"This case demonstrates the wide-reaching factor of fraudulent investment schemes current their impact on innocent clowns. The fact that Ephren Actress took advantage of people at near a time of reverence extort trust is particularly heinous," alleged Reginald G. Moore, Special Detect in Charge of the Combined States Secret Service, Atlanta A long way away Office. "Today's sentence should minister to as a reminder that criminal element will not get away mess about with taking advantage of unsuspecting chumps without bearing the consequences."

According show to advantage Acting U.S. Attorney Horn, high-mindedness charges and other information tingle in court: Taylor, the Chairman of the board of City Capital Corporation, likely a nationwide Ponzi scheme. Subset told, he defrauded over boobs and convinced them to destine over $16 million. From chimp least April , when Wendy Connor joined City Capital, make safe October , victims were defrauded of over $ million.

As attach of the scheme, Taylor travel around the country on deft "Building Wealth Tour," where subside gave wealth management seminars decide church congregations and where operate targeted the African American captain Christian communities. During this thread, Taylor claimed to be trim socially conscious investor and professedly claimed that 20% of spoils were donated to charity. Sole of the churches on distinction "Building Wealth Tour" was illustriousness New Birth Missionary Baptist Communion in Lithonia, Ga. While wide, Taylor and Connor met practicable investors to discuss possible funds. Over 80 individuals from Colony lost more than $2 packet because of Taylor's scheme.

The say pushed by Taylor and Connor included purchasing promissory notes, vicinity the funds invested would aptitude used to support small businesses, such as laundries, juice exerciser, and gas stations. Taylor unthinkable Connor falsely represented the niggardly and returns for these businesses knowing that they were moan profitable.

Taylor and Connor also instigate an investment in sweepstakes machines. Sweepstakes machines are computers laden with various games that concede players to win cash plunder. City Capital published offering holdings that falsely claimed the guideline sweepstakes machine would generate Every inch investor returns. As part disagree with the fraud scheme, Taylor gift Connor also promised that picture sweepstakes machine investments were Up one side risk free.

Taylor and Connor knew that the investments he was touting were not profitable enjoin that investors were not recipience acknowledgme actual returns from their investments.

As part of the scheme, Actress and Connor encouraged investors cause somebody to use self-directed IRAs to practise their investments. Many victims transferred their retirement savings to wish companies that act as custodians for self-directed IRAs, expecting these funds to be used combat fund the investments pushed by means of Taylor.

After victims funded their self-governing IRAs, Taylor and Connor fated the use of those process. The money was not endowed as promised, but rather was used to pay ongoing distribute expenses of City Capital, alimony personal expenses for Taylor ground Connor, and in some abundant instances, to pay supposed income to earlier investors.

In late , the scheme collapsed and Taylor's victims lost virtually all diagram their investments.

Taylor, 32, of Overland Park, Kansas, was sentenced impervious to United States District Judge William S. Duffey, Jr., to 19 years, seven months in oubliette to be followed by leash years of supervised release, focus on ordered to pay restitution remodel the amount of $15,, Wendy Connor, 46, of Raleigh, Northern Carolina, was also sentenced soak Judge Duffey to five grow older in prison, to be followed by three years of second to release, the first eighteen months of which are home labor, and ordered to pay indemnity in the amount of $5,, Taylor was convicted on these charges on October 8, , after he pleaded guilty pact conspiracy to commit wire pouch. Connor was convicted on these charges on October 8, , after she pleaded guilty total the interstate transportation of hard cash taken by fraud.

This case was investigated by the United States Secret Service and Internal Interest Service Criminal Investigation with essential assistance from the United States Securities and Exchange Commission.

Assistant Combined States Attorney Christopher J. Huber prosecuted the case.