[Vision2020] Is something similar coming to Moscow?

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Religion News in Brief

By The Associated Press
The Associated Press
Wednesday, December 8, 2010; 4:38 PM 



SULLIVAN, Ind. -- A judge sentenced a church financier to 54 years in prison Tuesday for pocketing millions of dollars that investors believed would be used to build churches. 

Special Judge Dena Martin ordered former pastor Vaughn Reeves to serve consecutive six-year terms for each of nine fraud counts, in a scheme that cost about 2,900 investors $13.1 million. Among aggravating factors, Martin found Reeves targeted people over age 65 and used religion to influence them. Reeves' attorney plans to appeal. 

Investigators said Reeves, 66, and his three sons used their now-defunct company, Alanar, and sales pitches that included prayers and Bible passages to dupe about 11,000 investors into buying bonds worth $120 million secured by mortgages on construction projects at about 150 churches. 

Instead, Reeves and his sons diverted money from new investments to pay off previous investors, pocketing $6 million and buying two airplanes, sports cars and vacations. 

Prosecutors pointed to the case as a prime example of affinity fraud, in which scammers prey on people who share a common interest, such as religious affiliation, ethnicity or age. 

Reeves' sons are scheduled to go on trial in March. 



_____________________________________
Wayne A. Fox
1009 Karen Lane
PO Box 9421
Moscow, ID  83843

waf at moscow.com
208 882-7975
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