Ex-California pastor sentenced to 14 years for $33M Ponzi scheme – Honolulu, Hawaii

Honolulu, Hawaii 2021-09-28 16:22:34 –

Los Angeles, CA: Former Southern California minister Kent RE Whitney was sentenced to 14 years in federal prison this week for masterminding a church-based Ponzi scheme.

Whitney, a former pastor of the Westminster-based Church for the Healthy Self, was ordered to pay more than $ 22 million in compensation after stealing more than $ 33 million.

He pleaded guilty to mailing the fraud last year and filing a false statement of federal income tax.

Whitney and his co-priest have targeted the Vietnamese community with a multi-million dollar plan, the Securities and Exchange Commission said.

According to the Los Angeles Times, the church, founded by Whitney and running from the Orange County strip mall, didn’t seem to have a sanctuary.

“Mr. Whitney was notified of the investigation and immediately settled with the SEC, worked with the U.S. Federal Attorney’s Office, accepted responsibility and convicted him. His focus is now on his family.” Wrote his lawyer, Kenneth White. By email on Friday, according to the Associated Press.

Between September 2014 and April 2019, Whitney tricked investors into making false or misleading claims to attract investment during television and seminars, according to the Federal Attorney’s Office in Los Angeles. I instructed the representative.

According to the prosecutor, Whitney sent the victim a monthly statement, a fake tax return, and a false federal income tax return, even though he had actually invested very little in the actual trading account.

The Los Angeles Times also reported that Whitney founded the church after being sentenced to imprisonment for deceiving investors in commodity schemes.

Ex-California pastor sentenced to 14 years for $33M Ponzi scheme Source link Ex-California pastor sentenced to 14 years for $33M Ponzi scheme

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