Religious Scam

By: Associated Press
By: Associated Press

Prosecutors say that the founder of an import-export company and other top officials scammed millions of dollars out of religious investors. Then they allegedly used the money on yachts, planes, a helicopter and plastic surgery.

Prosecutor Marcus Busch said yesterday during closing arguments in the long-running conspiracy and fraud trial that investors were lured by the prospect of huge profits while doing God's work.

Greg Setser, daughter-in-law Charnelle Setser, sister-in-law Deborah Setser, and business associate Thomas Henschke face charges stemming from their work with IPIC- Investments. The company began in Canton and expanded to Los Angeles, Florida and other locations around the world.

Greg Setser was the company's top executive. Prosecutors say he recruited well-known religious leaders such as Benny Hinn, and through them persuaded their followers to invest with the promise of big profits. Hinn was among the nearly 100 witnesses in the 24-week trial.

Defense attorneys are scheduled to give closing arguments later today. They've said Greg Setser was misled by trusted associates.


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