PHILADELPHIA (CBS) – A Montgomery county pastor, who has served time for fraud and is in custody awaiting sentencing for writing a bad check to buy a Mercedes, has been indicted by a federal grand jury on charges he ran a multi-million dollar home loan fraud and snookered congregants in the process.
Federal prosecutor Anita Eve says Michael Wilkerson, pastor of the New Life Millennium Life Restoration Fellowship, recruited congregants, and their family and friends.
“And told them they could easily make $15,000 dollars if they would agree to be the straw purchasers of the properties. And if they had good credit and would sign paperwork they could make $15,000.”
But Eve says Wilkerson, working with others, including real estate and loan brokers, inflated the prices of the home and got $6 million loans, but ultimately walked away from the properties leaving the congregants and others on the hook.
Reported By Tony Hanson, KYW Newsradio