In an update to this story, Bible marketing: Ponzi scheme took many investors, some members of the church have settled their suit.
He came into church with promises of riches for Bishop Eddie Long’s congregation.
Ephren Taylor, a self-described financial guru, left with nearly a million dollars in investments.
But, according to a lawsuit, it was nothing more than a Ponzi scheme and nearly all of it was lost.
Now, 13 members of Bishop Long’s church have settled their lawsuit with Bishop Long and Ephren Taylor.
Taylor used the trusted reputation of the church to convince investors this was a good deal.
News report from FOX5, Atlanta.