Christian minister fraud case roils Orlando investors
The Orlando affair centers on Jonathan Strander of Sovereign Ministries International who raised 11 to 14 million dollars from more than two thousand Christians nationwide with promises of 360 percent returns and church-building gifts abroad. Investigators say the scheme resembled a pyramid plan, with early investors paid from later funds. only about 12 million returned while 412 million was kept as commissions. Strander and ambassadors faced fraud charges. the ministry was placed under receivership as assets worth 865 million were traced, and victims faced losses.
MENTIONED IN THIS ARTICLE
Orlando
Fla
Jonathan Strander
Diane
Frank Smith
United States
Strander
Sovereign Ministries International
Strawder
Kenya
Poland
Smiths
Florida State Comptroller’s Office
Sovereign Ministries
Chicago
Jon
Smith
Prosecution argues publicity taints Bennett trial in Syracuse
Prosecutor says publicity makes a fair trial impossible in Syracuse and that Bennett cannot easily switch lawyers. He notes Bennett offered to pay his own counsel, but another attorney would not be up to speed. Bennett’s firms raised far more from investors than actual leases, with $15 billion in inflated leases and loans. Alleged transfers hid losses from auditors, moving funds to Bennett Management and Development Group co owned with his brother.
MENTIONED IN THIS ARTICLE
Bennett
New York
New Jersey
Bennett Funding Group
Bennett Management and Development Group
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