Dec 24, 2008 1:15 pm US/Eastern
NYC Man Arrested For Ponzi Scheme At His Church
Con Man Preyed On Parishioners, Pulling In $1 Million
NEW YORK (CBS) ―
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Bryant Rodriguez is accused of running a Ponzi scheme at his own church, costing parishioners about $1 million combined.
CBS
A Brooklyn man is under arrest after allegedly pulling parishioners from his own church into a Ponzi scheme, costing victims close to a million dollars combined.
At Iglesia El Camino, members haven't lost their spirituality or enthusiasm, just a lot of money after trusting Bryant Rodriguez, a man who said he was on a mission from God.
"In the beginning we believed in this man," Pastor Miguel Amadis tells CBS Station WCBS-TV. Amadis is a case in point of a man who lost much of what he owns. He and his family were conned for $300,000 in Rodriguez's fraudulent scheme.
Amadis, like an estimated 80 percent of the church, bought into the story Rodriguez was selling. He said he was doing business with Florida company that sold electronics to places like Best Buy, Costco, and BJ's. He told church members that he could give returns of at least 30 percent because the people he was working with wished for a "blessing for a blessing" by providing Jews and Christians with the opportunity to invest in the company.
"He was like the wolf, this guy is the lamb," said parishioner Ronald Solis, who said he and his family lost as least $65,000.
"We fell for it. He learned our language, he learned how to talk like us. He learned the Bible, he preached from the Bible," added parishioner Ivan Perez.
Authorities say in total, church members gave Rodriguez about a million dollars to be invested.
"We let God down, and we put our eyes and trust in men and money and for that we repent and we cry," said Perez.
Authorities say this was all a Ponzi scheme that fell apart when parishioners got suspicious and went to the police. But the pain may not end at Iglesia El Camino. Church members told WCBS-TV when word of Rodriguez's so called "expertise" got out, he took his services to other churches.
Rodriguez will spend Christmas in jail. He's due back in court on Tuesday for a detention hearing.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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