The Securities and Exchange Commission said Kent Whitney and David Parrish ran a church, but also a company called The Church for the Healthy Self Asset Management Inc.
The two allegedly promised investors a 12 percent annual return on any investments, but the SEC said the company didn’t invest any of the money.
They said Whitney and Parrish withdrew the money for themselves and mostly targeted the Vietnamese community.
Lawyers have filed a civil suit and are looking for more victims.
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