Church Founder Who Targeted Religious Investors Liable to SEC

A church founder accused of fraudulently soliciting funds for oil from religious investors through an unregistered securities offering is liable to the SEC after a federal judge in Illinois granted the agency summary judgment.

John Henderson used religious references to pitch more than 40 investors connected with a Christian college and other religious groups on what was actually an oil and gas investment scam, according to the Securities and Exchange Commission. There are no genuine issues of material fact as to whether he committed the violations alleged in the agency’s most recent complaint, the U.S. District Court for the ...