The SEC charged
Ephren Taylor with a fraudulent $11 million Ponzi scheme in April 2012. According
to Reuters, “Taylor fraudulently sold $7 million of notes said to bear
12 percent to 20 percent annual interest rates, to fund small businesses such
as laundries, juice bars and gas stations.” He “had conducted a multi-city ‘Building
Wealth Tour’ in which he spoke to congregations” on the importance of “giving
back.” He called himself a “social capitalist.” In actuality, he used the money
on himself and his wife’s attempt to become a singer.
The full essay is at "Christianity and 'Social Capitalism'."
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