The Black Collar Crime Series relies on public news stories and publicly available information for its content. If any incorrect information is found, please contact Bruce Gerencser. Nothing in this post should be construed as an accusation of guilt. Those accused of crimes are innocent until proven guilty.
Larry Holley, pastor of Abundant Life Ministries in Flint, Michigan, stands accused of defrauding people out of millions in a sketchy investment scheme. The Washington Post reports: (link no longer active)
Federal regulators are accusing a pastor in Michigan of fraud, saying he used the Bible to persuade retirees and laid-off auto workers to invest more than $6 million with him.
The Securities and Exchange Commission says the Rev. Larry Holley and his Treasure Enterprise LLC owe 43 Michigan investors about $2 million. The government believes Holley also owes investors in 13 other states.
He has not been criminally charged.
The government said Thursday that Holley promised risk-free returns from real estate. He is pastor of Abundant Life Ministries in Flint, Michigan. A Detroit federal judge has frozen his assets.
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The government says he told investors that he was more credible than a banker because he prayed for their children.
Abundant Life’s Facebook page states:
Distributors of knowledge, wisdom, wealth, & substance throughout the world for the expansion of the Kingdom of God.
Sounds like the good pastor was focused on the wealth part of the church’s mission statement.
A May 22, 2018 ABC-12 report states that Holly and his partner in crime, Patricia Gray, have been indicted on charges of wire and mail fraud, conspiracy and money laundering.
