- Associated Press - Wednesday, October 8, 2014

ATLANTA (AP) - Federal prosecutors say a businessman accused of swindling churchgoers in an investment scheme has pleaded guilty.

U.S. District Attorney Sally Quillian Yates said 32-year-old Ephren Taylor II of Overland Park, Kansas, pleaded guilty Wednesday to conspiracy to commit mail and wire fraud.

Prosecutors say Taylor, former chief executive of North Carolina-based City Capital Corporation, convinced members of mostly African-American churches across the country to invest in small businesses and used their money to pay personal expenses.

Yates says the scheme was executed between April 2009 and October 2010 and Taylor admitted to netting about $7 million.

Yates says Taylor’s co-defendant, Wendy Conner of Raleigh, North Carolina, has also pleaded guilty to interstate transportation of money taken by fraud.

Prosecutors say Taylor and Connor are scheduled to be sentenced Dec. 18.


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