Published Sunday, January 13, 2013
ATLANTA (AP) – A Georgia man has pleaded guilty in a scam that prosecutors say bilked investors out of almost $16 million by targeting Christians.
The Atlanta Journal-Constitution reports that 67-year-old Eldon A. Gresham of Peachtree City pleaded guilty to mail fraud.
He was set to stand trial in Texas on Monday in what prosecutors describe as a foreign currency exchange scheme.
Gresham is a former regional director of the Fellowship of Christian Athletes. Prosecutors say he solicited money from about 90 people by promising monthly returns up to 10 percent.
An indictment says Gresham told potential investors his success was due to the Lord's blessings. He claimed his program was open to a limited number of Christians.
Many of his victims were elderly.
Prosecutors say Gresham will forfeit $15.8 million.
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