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Nancy Ross

Invested in GMI in 1996 to raise money

Invested over $100,000

Money started coming in

Lost so much she needed to start working again

Mary Cohea

Mortgaged house and gave over $80,000 to GMI

Started receiving money as well

Word spreading even more

Lost $66,000

Forced out of retirement at the age of 73

Victims

No new investors

Not enough money to pay other investors

Victims

Eventually…

Paid with money invested by later investors

Audrey Wharton

Invested over $100,000 in GMI

Lost nearly all of it

Lost son's college fund

Paid with money from even later investors

Lose out on all investments

Victims

Pyramid Schemes

Told people they had acquired diamond/gold mines in offshore investments and trading

Claimed they were feeding the poor and housing the homeless

-Millions flooding in every month by 1995

-Caught the eye of the IRS

-U.S. Attorney Bob Mosakowski

-Investigators debunk the lucrative mining claims in ---Africa and offshore areas

-NO PRODUCT

-NO SOURCE OF REVENUE except investors

-Cash is just trading hands

Exposure

The Scheme

Other co-conspirators received sentences from 11-20 years

Gerald Payne

Former contractor

Served time in prison for lying to a grand jury in 1987

Along with the help of Don Hall, they concocted a religious investment plan, which officially became known as Greater Ministries International in 1993.

4-year investigation

Trail lasted only several weeks

20 count indictment

Gerald Payne—27-year sentence

(Federal prison in Minnesota)

Betty Payne—12 and 7 month sentence

Sentences

Promised investors money would be doubled in 17 months by “God’s Devine Blessings”

Hooked people with Biblical passages

Luke 6:38

The Scheme

The Company

Greater Ministries International

Julianna Koski

Jr. ADM

11/12/12

Today, Gerald Payne still claims "The great intent was to help all Christians" and he was “relying on god to pay people back.”

Today

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