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Megachurch Leaders Linked To Dodgy Mortgage Venture

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'The company promised to lower people's mortgages for $1,500 upfront. Police say thousands of homeowners paid Matrix money, but according to investigators, most of them ended up in bankruptcy and losing their homes.

So many people trusted Matrix Capital front man Fred Lee because he made promises of lowering people's mortgages in the sanctity of their local church.'

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CBS Atlanta first tracked down Fred Lee on the campus of New Birth, Bishop Eddie Long's church.
"You are not licensed, are you?" reporter Wendy Saltzman asked Lee.
"No not at all. But hold on, stop, stop, stop stop," he said.
On Wednesday nights, New Birth is where Lee convinced church members to pay him instead of their mortgages. That is where people started the process that would eventually cost many their homes.

Church? Sounds like another one of those scam businesses. Anyone see Steve Martin's take on travelling scammers in "Leap of Faith."

Snake oil merchants and crowd hypnotists have been around for years. That people buy into these shows is beyond me. The give aways were there to see: a "bishop" no less! Pay me instead of your mortgage?

These so called self-styled "bishops" are almost as bad as a bankster.

Edited by Realistbear

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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