LOS ANGELES, California: Former Southern California pastor Kent R.E. Whitney was sentenced this week to 14 years in federal prison for masterminding a church-based Ponzi scheme.
Whitney, former pastor of the Westminster-based Church for the Healthy Self, was ordered to pay more than $22 million in restitution, after stealing more than $33 million.
He pleaded guilty last year to mail fraud and filing a false federal income tax return.
Whitney and his co-pastor targeted the Vietnamese community in a multi-million dollar scheme, said the Securities and Exchange Commission.
According to the Los Angeles Times, the church, which was founded by Whitney and operated from a strip mall in Orange County, did not seem to have a sanctuary.
“Mr. Whitney, upon being notified of the investigation, immediately settled with the SEC, cooperated with the U.S. Attorney’s office, and accepted responsibility and entered a guilty plea. His focus is now on his family,” his attorney, Kenneth White, wrote in an email on Friday, according to the Associated Press.
According to the U.S. Attorney’s Office in Los Angeles, between September 2014 and April 2019 Whitney defrauded his investors and instructed church representatives to make false or misleading claims to attract investments on television and during seminars.
Whitney, despite actually investing little in actual trading accounts, sent monthly statements and faked return reports to victims, as well as false federal income tax returns, according to prosecutors.
The Los Angeles Times also reported that Whitney formed the church after serving a prison sentence for defrauding investors in a commodities scheme.
24World Media does not take any responsibility of the information you see on this page. The content this page contains is from independent third-party content provider. If you have any concerns regarding the content, please free to write us here: contact@24worldmedia.com
Common Mistakes When Using Athletic Field Tarps
High-Performance Diesel Truck Upgrades You Should Consider
Warehouse Optimization Tips To Improve Performance
Fire Hazards in Daily Life: The Most Common Ignition Sources
Yellowstone’s Wolves: A Debate Over Their Role in the Park’s Ecosystem
Earth Day 2024: A Look at 3 Places Adapting Quickly to Fight Climate Change
Millions of Girls in Africa Will Miss HPV Shots After Merck Production Problem
This Lava Tube in Saudi Arabia Has Been a Human Refuge for 7,000 Years
Four Wild Ways to Save the Koala (That Just Might Work)
National Academy Asks Court to Strip Sackler Name From Endowment
Ways Industrial Copper Helps Energy Production
The Ins and Out of Industrial Conveyor Belts