{"id":4250,"date":"2017-03-30T18:50:49","date_gmt":"2017-03-30T23:50:49","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4250"},"modified":"2022-03-11T13:40:04","modified_gmt":"2022-03-11T19:40:04","slug":"pastor-faces-affinity-fraud-charges-alleging-bilked-retirees-church-members-laid-off-auto-workers","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/pastor-faces-affinity-fraud-charges-alleging-bilked-retirees-church-members-laid-off-auto-workers\/","title":{"rendered":"Pastor Faces Affinity Fraud Charges Alleging that He Bilked Retirees, Church Members, & Laid-Off Auto Workers"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission filed fraud charges against Larry Holley, a pastor with the Abundant Life Ministries in Flint, Michigan. According to the regulator, the pastor used faith-based verbiage to solicit investments from his targets in what he led them to believe was a successful real estate business with hundreds of commercial and residential properties. The SEC\u2019s affinity fraud<\/a> complaint said that Holley\u2019s scam raised about $6.7M from over 80 investors who were promised high returns. <\/p>\n

Holley allegedly held \u201cBlessed Life Conferences\u201d that were actually financial presentations at churches across the US. During these gatherings, he would ask congregants to disclose their financial holdings on cards he gave them to fill out and he promised to \u201cpray over the cards.\u201d He is said to have called investors \u201cmillionaires in the making.\u201d <\/p>\n

The SEC\u2019s complaint also claims that Holley\u2019s business associate, Patricia Enright Gray, targeted recently laid-off auto works who were given severance packages and she offered to consult with them to help grow their finances. She purportedly promised to roll over their retirement funds into tax-advantaged IRAS and invest their money in Treasure Enterprise, which was Holley\u2019s company. She advertised her services on a religious radio station in Flint. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission filed fraud charges against Larry Holley, a pastor with the Abundant Life Ministries in Flint, Michigan. According to the regulator, the pastor used faith-based verbiage to solicit investments from his targets in what he led them to believe was a successful real estate business with hundreds of commercial and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3918,3803],"tags":[],"class_list":["post-4250","post","type-post","status-publish","format-standard","hentry","category-affinity-fraud","category-senior-investors"],"yoast_head":"\nPastor Faces Affinity Fraud Charges Alleging that He Bilked Retirees, Church Members, & Laid-Off Auto Workers — Investor Lawyers Blog — March 30, 2017<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission filed fraud charges against Larry Holley, a pastor with the Abundant Life Ministries in Flint, Michigan. — March 30, 2017\" \/>\n<meta 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