Terry Wayne Millender, the former senior pastor of Victorious Life Church in Alexandria, Virginia, and his wife Brenda were convicted on Monday for their  roles in a $2 million fraud scheme.

The two were founding members of Micro-Enterprise Management Group, a company that said it was helping poor people in developing countries through providing small, short-term loans to start or expand existing businesses by working with a network of established micro-finance institutions.

That was all a lie.

via Alexandria Times:

The Millenders recruited investors to their company using its Christian mission to help the poor, promising guaranteed rates of return and assuring its investors that the loan principal would be “safe and backed by the assets of MEMG.”

The jury found the Millenders’ representation of the company to be false and fraudulent. Instead of their alleged mission, the couple was using the money to take part in risky trading on the foreign exchange currency market, options trading, payments to the purchase of a $1.75 million residence and other personal expenses.

The Millenders concealed how they were using their investors’ money by telling those who had given money that they would get their investment back and blamed delays in repaying investors, in part, on the 2008 financial crisis.

Following the failure of MEMG, the Millenders created another company called Kingdom Commodities Unlimited, which alleged to broker Nigerian oil deals. The couple entered into loan agreements with several investors, with investments totaling $600,000. The Millenders made similar promises to KCU investors that they made to MEMG investors, telling them that they would receive high rates of return and short term loans.

The Millenders, in turn, used KCU money to pay for rent and golf trips, a birthday party and other personal expenses.

A co-conspirator to the couple, Grenetta Wells, 56, chief operating officer at MEMG, pleaded guilty to conspiracy to commit wire fraud and will be sentenced on Jan. 12. 

The couple faces a maximum penalty of 20 years in prison when they’re sentenced on March 30.

Source www.lovebscott.com

Tiffany Gaines
Tiffany Gaines

Owner & Founder of Shared Success Global and Entertainment Industry Executive Tiffany Gaines, has been building a name for herself as a woman of integrity and professionalism for more than a decade. Currently wearing several hats in both the entertainment and hotel industries, she has soon preserved the highest levels of professional and personal ethics by maintaining a long-term stability in providing access to a network spectrum of quality entertainment sources to both sides of the business. She’s at present, the business manager for Curtis Young, Son of the Iconic Dr Dre and Executive Board of Director for Forever Young Legacy, LTD, while also holding several other positions such as the Business Manager for former drug Kingpin, now currently Amazon’s best seller/Author Freeway Rick Ross, Urban Pop sensation, singer/songwriter Myko of Rick Ross Music Group and Billboard charting, national recording artist and designer Christine Storm. In addition to management, she is the CEO of LRT Entertainment, Owner and Founder of SS (SHARED SUCCESS) Music Group/BLASIA’S ENTERTAINMENT LLC (A global online marketing agency/distribution company currently marketing and distributing for close to 4,000 artists worldwide), Label Manager for Rick Ross Music Group and Senior Director of Marketing for Monsta Squadd Global and the host of the Underground Over Mainstream Movement aimed at offering worldwide recognition to underground artists who deserve to be honored and recognized just as much as the next mainstream. With a Bachelor’s degree in Political Science with an emphasis on Law and Society, she has proved herself not only as one with intelligence and skill, but also a serious determined business woman and entrepreneur. She currently represents a select few of international clientele in both Japan and China for those seeking to raise or re-position their public profile in the Entertainment Industry. In addition to her extensive resume, she is also a partner and International Hotel Broker for the National Hotels Association (A global network offering hotels at discounted wholesale rates holding contracts with over 750,000 hotels worldwide) servicing her entire platform of Artists, Producers, CEO’s, Label owners, promoters, booking agencies and corporate companies saving her clients up to 75% off retail prices online. Over the years, she has held many positions of the entertainment industry from both major to independent, vastly moving around this circle on various prestigious and exclusive levels. She’s an advocate speaker for the youth, supporter of charitable non-profit organizations and meaningful causes and above all gives every bit of the credit of her works to the Most-High.


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