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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forumsmost disgusting story of the week. pastor sentenced for swindling elderly out of millions
A Missouri pastor at a church called Passion for Truth Ministries will serve prison time for lying to and defrauding elderly investors, the St. Louis Post-Dispatch reports.
Jim Staley, 40, was sentenced Wednesday to 7 years in prison and ordered to repay elderly investors $3.3 million. He pleaded guilty to four counts of wire fraud and profited $570,000 in the scam of elderly people who trusted him because of his Christian faith and family values. Some of them were suffering from dementia.
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Despite being warned by the court that not accepting personal responsibility for his actions could earn him more prison time, Staley has said in sermons that he was in the wrong place at the wrong time and blamed the economy.
Staley has only paid a tiny fraction of restitution owed to victims $1,950, despite the fact he lives rent free with an annual church salary of $127,000.
As a sales agent for B&B Equity Group, a California company, Staley misled victims into believing that billionaire Warren Buffett was an investor and convinced people to cash out on annuities knowing they would lose money. He continued to sell investments even after the state issued a cease and desist order. Staley did not mention the order to clients.
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http://www.rawstory.com/2015/08/pastor-at-passion-for-truth-church-sentenced-to-prison-for-swindling-the-elderly/
ChairmanAgnostic
(28,017 posts)Cleita
(75,480 posts)John Oliver did his show last week on this. They are not only fleecing the elderly but cancer victims too promising cures through the lord.
cali
(114,904 posts)malaise
(269,188 posts)Preying on the gullible - they'd starve if they're waiting for my money.
They are all thieves.
Initech
(100,105 posts)Because his show has been awesome since day one.
Journeyman
(15,041 posts)How many of these clowns go their entire lives ripping off young and old alike and never get called on any of it?
I think it's great this slime ball will serve some time and his rubes will get their money back. No guarantee the rubes won't give it away again to the next huckster who plies their street, but at least this criminal's going to jail.
"Prey TV looks like pay TV to me, it's just a curse on the human race." ~ Pete Townshend
cali
(114,904 posts)This was not a tv scam. None of the victims were members of his church. It was not a religious scam. Yes, it's good he's going to jail.
Reading before commenting is a good idea
ProfessorGAC
(65,212 posts)Name was Rooney. Fleeced a bunch of people with a scam promising 15%, zero risk investment in what was little more than a pyramid scheme.
Then, took the margins, declared bankruptcy of his firm, and left everyone holding the bag.
Had people cashing out IRAs and 401k_s, or borrowing against them in what people thought was a terrific cash flow investment, that was all fake.
This happened in the 90's and he's still in jail. Got 25 years or something like that.
Nearly everyone caught in his net was retired or just about to.
Maedhros
(10,007 posts)I can see what you're looking to find
In the smile on my face
In my peace of mind
In my state of grace
I send what I can
To the man from the ministry
He's a part of heaven's plan
And he talks to me
Now I send what I can to the man
With the diamond ring
He's a part of heaven's plan
And he sure can sing
Now it's all I can afford
But the lord has sent me eternity
It's to save the little children
In a poor country
I got my ticket to heaven
And everlasting life
I got a ride all the way to paradise
I got my ticket to heaven
And everlasting life
All the way to paradise
Now there's nothing left for luxuries
Nothing left to pay my heating bill
But the good lord will provide
I know he will
So send what you can
To the man with the diamond ring
They're tuning in across the land
To hear him sing
I got my ticket to heaven
And everlasting life
I got a ride all the way to paradise
I got my ticket to heaven
And everlasting life
All the way to paradise
Liberal_in_LA
(44,397 posts)Initech
(100,105 posts)Maybe a few of these money exchange places, er, churches should start losing their tax exempt status. Guys like this asshole deserve it.
Xyzse
(8,217 posts)They promote donating to the church so that they can expand and proselytize. They don't even talk about what they do towards poverty or any other more needful matters. Their sole existence is to promote themselves, and I find that disgusting.