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“The Black Madoff” To Be Sentenced Soon

Eddie Long’s church members duped out of millions, finally receives justice…

Ephren Taylor aka “The Black Madoff” is finally going to get his A** handed to him by the Feds. As most remember, Taylor was charged with using a Ponzi scheme to defraud investors – mostly church folks, retirees and low to middle class blacks – out of an estimated $11 million.  He’s been ripping people off since the 90s according to this article.

Sometime between 2009 and 2010, Taylor presented his investment opportunity to church members of Bishop Eddie Long’s New Birth Missionary Baptist Church in Lithonia, GA. Through Long’s trust of Taylor’s past (and present) accomplishments, the young financial guru persuaded church members to invest large sums or their life savings into his company, Capitol City Corp.. As time past, people became weary when their residual checks weren’t coming in. Taylor, of course, began to dodge their calls.

Taylor’s Ponzi scheme reached across the U.S. covering states such as North Carolina, Missouri, Kansas, and Georgia.

In October, Taylor, 32, pleaded guilty to conspiracy to commit mail and wire fraud. He will be sentenced on January 22, 2015 by Judge William S. Duffey Jr, U.S. District Court’s Northern District in Atlanta.