Only 6 left; KC-area minister becomes 8th defendant to plead guilty to conspiracy in Petro America case
THE ASSOCIATED PRESS
Updated: August 14, 2012 - 5:45 pm
KANSAS CITY, Mo. — An eighth person has pleaded guilty in Missouri to his role in a $7.2 million securities fraud scheme that targeted church members with promises of riches beyond their wildest dreams.
The U.S. Attorney's Office says 56-year-old Curtis White of Independence pleaded Tuesday to a conspiracy charge related to Petro America Corp.
The company told investors it had $284 billion in assets, including gold mines and oil. But prosecutors say its assets were virtually worthless.
White was a member of the Ministers Alliance, a group of local ministers who supported Petro and persuaded often-poor congregation members to buy company stock.
He admitted that he was not licensed to sell securities and didn't tell investors of a cease-and-desist order issued by the state in 2008.
Charges are still pending six defendants.
Good luck.
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