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Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US - Crime - Nairaland

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Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by emkz: 8:43am On Jan 25
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25928 / January 18, 2024
Securities and Exchange Commission v. Prosperity, Investments & Lending, LLC, et al., No. 1:24-cv-00242-SCJ (N.D. Ga. Jan. 18, 2024)
SEC Charges Georgia Company and Organizer with Engaging in a Ponzi Scheme and Affinity Fraud Targeting Nigerian-Americans


The Securities and Exchange Commission charged Loganville, Georgia resident Prosper E. Beyond Moore and the entity he controls, Prosperity Investments & Solutions, LLC, "Prosperity", with defrauding dozens of investors in the Nigerian-American community who shared Moore's religious background.

According to the SEC's complaint, between October 2021 and September 2022, Moore and Prosperity made unregistered offerings of securities and raised more than $1.4 million from over 60 individual investors-many of whom were members of Moore's church or learned of Moore's offerings through shared religious affiliations—by falsely touting Prosperity as an exclusive investing and lending platform with an elite team of experienced individuals that would provide investors with profits of up to 50% each month. The complaint, however, alleges that Moore, who had no prior experience working in the financial industry, was the only person making investment decisions, and Prosperity did not actually invest the majority of funds it received from investors. Instead, according to the SEC, Moore operated Prosperity as a Ponzi scheme and used money from new investors to make payments to existing investors and to pay his personal expenses, while generating phony account statements to create the illusion of profits.

The SEC's complaint, filed in the United States District Court for the Northern District of Georgia, charges Moore and Prosperity with violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the allegations in the SEC’s complaint, Moore and Prosperity each consented to the entry of an order permanently enjoining them from violating the charged provisions and authorizing the court to determine at a later date the amount of disgorgement, prejudgment interest, and civil money penalties that each defendant shall pay. Moore also consented to a permanent officer-and-director bar pursuant to Section 20(e) of the Securities Act and Section 21(d)(2) of the Exchange Act, and to an injunction that permanently bars Moore from participating in the issuance, purchase, offer, or sale of securities, except in his personal account.

Investors should be aware that many fraudsters try to take advantage of the trust that having something in common creates, such as a common religion, nationality, or ethnicity, and may also use unregistered offerings to conduct investment scams. The SEC’s Office of Investor Education and Advocacy has issued an Investor Alert with tips on how investors should be wary of promises of high investment returns with little or no risk and avoid investment decisions based solely on common ties with someone recommending or selling the investment.

The SEC's investigation was part of the Atlanta Regional Office’s Atlanta Area Affinity Fraud Initiative and was conducted by enforcement staff in the Atlanta Regional Office. The investigation was led by Deepthy Kishore and Kyle Bradley and supervised by Natalie Brunson and Justin Jeffries. The litigation will be led by Kristin Murnahan and supervised by M. Graham Loomis.

https://www.sec.gov/litigation/litreleases/lr-25928

Nlfpmod

2 Likes 1 Share

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by adesegun121(m): 9:05am On Jan 25
ENDTIME PASTOR cry cry

6 Likes 1 Share

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Oomardesigns: 9:05am On Jan 25
Hunm
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by shamsin6300(m): 9:05am On Jan 25
Uhmmmmmmmmmmmmmmm
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by 89green: 9:06am On Jan 25
Bad news everywhere embarassed

2 Likes

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Promismike(m): 9:06am On Jan 25
2011 when I finished my NYSE. A pastor duped me of my 180k.

The truth is their are real pastors even as the fake ones are many.

37 Likes 2 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Vectorchuks: 9:06am On Jan 25
Ok
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by chidiakwari: 9:07am On Jan 25
😃😃😃😃

34 Likes 6 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Olarewaju89: 9:07am On Jan 25
grin

Some men be like I don't know how to cook because my mother didn't teach me. So who thought you how to unlock bra.

26 Likes 1 Share

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by fasho01(m): 9:07am On Jan 25
Even abroad and exposed, they are still in mental slavery. It is indeed true that you can take a monkey out of the jungle, but you cannot take the jungle out of the monkey

36 Likes 3 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by profeoo(m): 9:08am On Jan 25
Greed everywhere
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Namaster: 9:08am On Jan 25
Morons will be Morons no matter where they go.

Imagine Nigerians still falling prey to PASTORS and PONZI SCHEMES in a country that works.

Nigerians are dumb and greedy. Makes them into a herd of FAT and docile sheep ready to be fleeced.

Up to 50% profit in a month which means ALMOST 600% profit per annum.

The morons are just begging to be fleeced.

26 Likes

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by BarrElChapo(m): 9:08am On Jan 25
The system works there.
I wonder what they'd find if a forensic investigation is done on the books of Oyedepo and his cronies, we're sure to be amazed 😂

8 Likes 1 Share

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by MANNABBQGRILLS: 9:09am On Jan 25
God have mercy 🥺
He will never go scot free

2 Likes 3 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by omoadeleye(m): 9:09am On Jan 25
We saw Nigerian pastor defraud church members in the headline but we can only see a white man on the picture

19 Likes 3 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by polarman(m): 9:09am On Jan 25
Another MMM with another name Prosperity Investments and Solutions.......
God when will you start shaming these people who lie in your name?

2 Likes 2 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by sofeo(m): 9:10am On Jan 25
Alright
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by KingDash09(m): 9:10am On Jan 25
Pastor are liars



Since one tell me make i Dey add hand for tithe
Since that day I no dey go church again

Eneche
Oyedepo
Kumuyi
Adeboye
And the rest all na thieves wey just get better updates early

9 Likes 2 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by mekleelex200(m): 9:10am On Jan 25
They will not too criticise because he is a white

1 Like

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by jericco1(m): 9:12am On Jan 25
in foreign currency, it is called defraud while in our local currency it s called scam grin grin

11 Likes 2 Shares

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Babaken(m): 9:12am On Jan 25
Ndi Amuma uwha.
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by SultanOfAbia: 9:12am On Jan 25
Ok
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by YorubaPrince: 9:13am On Jan 25
embarassed
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by zebszebs: 9:14am On Jan 25
Promismike:
2011 when I finished my NYSE. A pastor duped me of my 180k.

The truth is their are real pastors even as the fake ones are many.

NYSE?

5 Likes

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by soccerlite: 9:14am On Jan 25
The Bible called them "hirelings" John 10

They are pastors for only their stomach and lifestyle

1 Like

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by yomalex(m): 9:14am On Jan 25
Hmm
Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by DrTee1(m): 9:15am On Jan 25
Religion, especially Christian Pentecostalism and the new Conservatives like Fr Mbaka today in Africa, is largely built on Mass deception.

When you point it out, they say "Church is for sick people".

Frauds, all (most, actually) of them!

3 Likes

Re: Prosper Beyond Moore Defrauds Nigerian-Americans Of $1.4 Million In The US by Rahkman: 9:15am On Jan 25
I have forgotten the last time I went to church I attend church in my own house

7 Likes 2 Shares

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