"American Greed," a new series on CNBC, explores the worlds of scams, cons and schemes. In Episode #6, a story of religious fraud -- a $500 million dollar pyramid scheme!
The Preacher
Gerald Payne
The Faithful
Nancy Ross
The Attorney
Tob Krebs
SCENE 1 - Church founder Gerald Payne calls it "divine inspiration." He was given a plan -- a way for the faithful to reap what they sow.
SCENE 2 - The scheme is simple. The faithful are promised -- gift the church and your money will be doubled in seventeen months.
SCENE 3 - The faithful believe and they invest. The cash is flowing -- millions of dollars pour into Greater Ministries International every month.
SCENE 4 - The IRS is suspicious. Banking records are pulled and agents discover a scam -- one of the most lucrative pyramid schemes in history!