Wednesday, December 24, 2014

Ephren Taylor's Sentencing Delayed Until Late January


Ephren Taylor's Sentencing Delayed Until Late January

Thanks to The Greed Chase website, we have the latest on what is going on with Ephren Taylor, con man who defraud church members of many mega churches like Bishop Eddie Long, Joel Osteen and others. Taylor, who federal officials allege stole untold millions from mostly working class black investors and church-going retirees through a money-losing pink sheet company called City Capital Corp., was also barred from selling or promoting unregulated penny stocks, records show.

Read the article below:

Federal court has postponed the sentencing of con man Ephren Taylor II until early next year, allowing the accused Ponzi schemer to spend Christmas and New Year with his wife and two children in a Kansas City suburb.
The sentencing for Taylor, 32, has been re-set for Jan.22, 2015 at the U.S. District Court's Northern District in Atlanta, where he will appear before Judge William S. Duffey Jr., federal court filings show.
Assistant U.S. Attorney Christopher J. Huber is prosecuting the case.
The delayed sentencing that was scheduled for Thursday, Dec. 18, 2014, is another temporary setback for Taylor's victims who were hoping to find out before Christmas when, where and how many years the man now commonly known as "Black Madoff" would spend in federal prison.
Taylor was arrested in June on a federal indictment charging him and another defendant with defrauding investors out of more than $7 million between 2009 and 2010. However, there are several lawsuits and securities complaints in Georgia, North Carolina, Kansas, Missouri and other states that accused Taylor and associates of stealing from investors, businesses and other individuals going all the way back to the late 1990s.
In October, Taylor pleaded guilty to conspiracy to committing mail and wire fraud in the nationwide scam that bilked an untold number of victims of their retirement savings. He was also accused of fraud by wire, radio and TV, and using interstate commerce for the purpose of committing a crime, court filings show.
Under the conditions of his pre-trial release agreement, Taylor has been confined to his residence in Overland, Park, Kan., between the hours of 10:00 p.m. until 6:00 a.m. every night, and must wear an electronic monitoring device under the supervision of federal officials, court records show.
On Nov. 10, Judge Duffey granted a motion requested by Taylor's Washington,D.C.-based attorney, Christopher Bruno, allowing the accused swindler to travel to New York City for a meeting with officials at the Enforcement Division of the U.S. Securities & Exchange Commission.

There has been no word from federal officials on what that meeting was about, but the SEC entered an order on Oct. 29 barring Taylor from having "association with any broker, dealer, investment adviser, municipal securities dealer, municipal adviser, transfer agent, or nationally recognized statistical rating organization," SEC filings show.

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