Abraham Kennard: Scams 1600 Black Churches

CNBC  featured on its  Amercan Greed program recently a story about how a life long  con man, Abraham Kennard scammed 1,600 pastors out of 9 million dollars. Abraham Kennard convinced a group of pastors that for a min. $3,000 investment he would offer a 16,0000% return on their investment. That’s right, if they gave him $3,000 then he would return to them, $500,000.  He advised them that he had a group of wealthy investors interested in blessing them.  So a few preachers began recruiting other preachers and after a couple of years, Abraham had swindled thousands of dollars from these struggling preachers only to use their monies to live  a lavish lifestyle.  He thought he had it made with this scam as CNBC reported he was a life long con artist but it was not until he was able to bring God into the picture with the help of some pastors was he able to cash in on the big one.    He was living the good life until a meeting in Florida went bad.  That was the day that he was suppose to make payouts to the churches.  When that did not happen, Pastors called in the Feds.  The FBI opened a fraud case on Kennard and he was eventually sentenced to 17 years in prison.

Pastors,  beware,  I want to share some good advice with you that my grand mama use to tell me, “Chile sometimes what sounds too good, many times, is not good for you.”

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