Ep 9. Preying on Faith

In American Greed season 2 episode 9, titled "Preying on Faith," the show brings to light a religious scam that swindled millions of dollars from innocent and vulnerable investors.

The episode covers the story of the former accountant and devout Christian, Ephren Taylor, who rose to prominence during the mid-2000s preaching the gospel of wealth and financial freedom. Taylor's motivational speeches and spiritual fervor attracted many followers, and he soon became a sought-after speaker in the mega-church circuit. However, his true intentions were far from charitable.

Using his charismatic personality and slick business skills, Taylor convinced a large number of churchgoers to invest in his company, City Capital Corporation, promising above-market returns and socially responsible investments in urban communities. His pitch resonated with many believers who saw him as a God-fearing entrepreneur who wanted to make the world a better place.

What they didn't know was that City Capital Corporation was nothing more than a Ponzi scheme that siphoned money from new investors to pay off earlier ones. Taylor used the church network to market his fraudulent investments, promising guaranteed returns of up to 20%, but in reality, he enriched himself and his family with investors' money, while most of the promised community development projects never materialized.

The episode interviews some of the victims of Taylor's scam, including pastors and church members who entrusted their savings and retirement funds to him. They share their stories of hope turned into despair as they realized they had been duped by a wolf in sheep's clothing.

The show also highlights the investigative work of law enforcement and journalists who unraveled Taylor's scheme, including a former FBI agent who posed as a potential investor and secretly recorded his conversations with him.

American Greed season 2 episode 9 portrays the devastating impact of financial fraud, especially when it preys on people's faith and trust in religious leaders. Moreover, the show raises important questions about the responsibility of churches to vet and endorse financial advisors who operate within their communities, as well as the need for greater regulatory oversight of investment scams.