June 22, 2008
COLUMBIA, S.C. (AP) -- Prosecutors say three accused scammers
went to homes and churches across North and South Carolina
spreading tales of financial rescue.
They promised an end to credit card debt, mortgages and hefty
car loans with an investment of just pennies on the dollar.
The three men accused of the scam attended church together. Tony
Pough, Timothy McQueen and Joseph Brunson created their endeavor in
2005 and named it after a Biblical story. And stories of their
investment plan spread quickly thanks to believers who recruited
new clients on military bases and in churches.
At least 7,000 investors from two dozen states had handed over
$80 million by the time authorities moved in. But state and federal
officials say less than $40,000 of the money was invested, and
court documents show the men had bought a jet, luxury cars and
tickets to football games.
Copyright 2008 by The Associated Press. All Rights Reserved.