DIR Return Create A Forum - Home
       ---------------------------------------------------------
       Religious Convictions
  HTML https://religiousconvictions.createaforum.com
       ---------------------------------------------------------
       *****************************************************
   DIR Return to: Secular Discussions
       *****************************************************
       #Post#: 1733--------------------------------------------------
       Passion for Truth Ministries 
       By: Kerry Date: May 5, 2015, 7:38 am
       ---------------------------------------------------------
       From Christian Post
  HTML http://www.christianpost.com/news/passion-for-truth-ministries-pastor-jim-staley-confesses-to-cheating-investors-out-of-3-3m-and-pocketing-570k-for-himself-138547/:
       Passion for Truth Ministries Pastor Jim Stanley, 40, who told
       his St. Charles, Missouri, congregation last summer that he
       didn't realize he had been arrested after a federal grand jury
       indicted him last June for defrauding investors, admitted in
       federal court Thursday that he cheated his elderly victims out
       of $3.3 million while making $570,000 for himself.
       In a courtroom packed with supporters, the St. Louis
       Post-Dispatch reported that Staley, who owned a financial
       consulting form, pleaded guilty to four counts of wire fraud
       rather than taking his case to trial. He admitted that he
       cheated 16 investors, and his defense attorney, Scott Rosenblum,
       says his client was ashamed and "completely accepted
       responsibility." The attorney stressed that the crime "had
       nothing to do with his role as a pastor."
       Assistant U.S. Attorney Dianna Collins said some of the
       investors trusted Staley because he was a "nice religious man"
       who referred to several of them as "Grandma."
       "Seniors tend to be more trusting and give people the benefit of
       the doubt, particularly people who hold themselves out as
       religious leaders," said Collins.
       The FBI he did know he was putting their money at risk and
       should have told them so instead of telling them their
       investment was a sure thing:
       "James Staley was indicted for his alleged scheme to defraud
       investors by making false promises of high rates of return and
       minimal risk. The indictment states that Staley defrauded 11
       investors/lenders by causing them to invest over $3.4 million,
       giving him commissions totaling over $570,000," it said.
       In 2007, according to the indictment, Staley operated Wealth
       Financial International, the same year he started his church and
       the same year he became a sales agent for a premium financing
       company in California called B & B Equity. Staley, in his
       capacity as sales agent, found people to provide loans for life
       insurance policies.
       "In many instances, several of these investor/lenders' funds
       were bundled together to provide financing to purchase one life
       insurance policy. Staley received a commission for each
       investor/lender that he found to contribute financing for the
       purchasing of the life insurance policies.
       "B & B required the lender/investor to invest in the insurance
       policy for a fixed period of time varying from 18 months to two
       years. During this period of time Staley represented to clients
       of Wealth Financial that B & B Premium Financing Company would
       sell the bundled insurance policies on the open market with
       guaranteed returns," said the release.
       "However, Staley was well aware that if B & B was unable to
       secure a buyer for the bundled insurance policies that his
       clients would lose all their monies invested in the premium
       financing product sold by B & B," it added.
       Now get this.   Remember what his lawyer said about his
       insurance fraud having nothing to do with his church activities?
       See what he has to say about tolerating sin in a congregation
       -- except here, the tolerating of sin seems to have been
       tolerating his own sin as pastor.
  HTML https://www.youtube.com/watch?v=SQp7Y44MARQ
       Now listen to him explaining things.
  HTML https://www.youtube.com/watch?v=PnxLrLERFwA
       I had to smile when he quoted, "All things work together for the
       good for them who love the Lord."   I'd say he was serving
       mammon if he got over a half a million dollars himself out of
       the deal.
       *****************************************************