Here's an official press release from the Lerman Firm whom are handling the class action lawsuit against Ephren Taylor which may reach into the hundreds and totaling the tens of millions of dollars. The press release calls Ephren Taylor a preacher and says he has allegedly scammed several churchgoers from state to state.
We actually heard him speak on a national television show that he'd ultimately be a pastor because it pays good money. Go figure.
Below is the press release:
Youngest African American CEO Ephren Taylor Hit with Class Action Lawsuit Alleging Serial Ponzi Schemes That Bilked Churchgoers Out of Millions
FORT LAUDERDALE, Fla., Oct. 20, 2011 /PRNewswire/ -- A class action lawsuit alleges that Ephren W. Taylor II, famous for becoming "America's youngest African American CEO of a public company," was in reality the ringleader of a series of cynical Ponzi schemes that stole tens of millions of dollars from hard-working churchgoers. Taylor was prominently featured in media outlets including NPR, Fox, ABC, CNN, Forbes and others, and was apparently tapped to create and manage a $1 million endowment fund for rapper Snoop Dogg's Youth Football League.
The lawsuit, filed this month in U.S. District Court for the Eastern District of North Carolina, accuses Taylor and other individuals and financial institutions who allegedly helped him perpetrate his Ponzi schemes with wire fraud, interstate transportation of stolen property, money laundering, racketeering, violations of the RICO Act and a number of other serious violations.
Read full press release here