Eddie Long was warned nearly two weeks prior to Ephren Taylor's appearance at his New Birth Missionary Baptist Church that his ruse was a Ponzi Scheme, as the SEC calls the scam.
"I thought we were betrayed," says Lillian Wells in this WSBTV video about the dozen church members who lost money -- approximately $1 million -- in the scam.
Wells invested $122,000 with Taylor -- her whole life savings -- which Taylor promised a 22% return on.
Long himself didn't actually invest money with Taylor, therefore didn't lose any, which some church members found strange.
A document obtained by Channel 2 at WSBTV.com shows that the church was warned about Taylor on October 5, 2009, almost two weeks before he appeared to speak to the congregation at large.
The documents state that an unidentified caller called the church and even sent financial statements from Taylor's company to back up their claims that there would be no return on their investments.
Attorney Jason Doss is representing the dozen church members seeking to reclaim their lost income.
Wells says she wouldn't have invested the money if not recommended by Long, stating that she sacrificed and saved for 30 years to earn that money.
"Did you get any kickbacks from it? Or did you just really sit back and allow your people to be taken?" Wells asks Bishop Long. "A shepherd [doesn't] do that to the sheep."
In 2011, Long used a YouTube video to plead with Taylor to return the $1 million Taylor bilked out of his followers.
The court case names Taylor, his company, Bishop Eddie Long and the New Birth Missionary Baptist Church. Nationwide, Taylor has been accused of scamming $11 million out of unsuspecting investors.
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