44. Great Ministries International
Year: 1993
Approx. Amount: $500 million*
Company / Person Involved: Gerald Payne
Greater Ministries International was, you guessed it, another Ponzi scheme. The church was headed by Tampa, Florida’s Gerald Payne, who, along with his ministry leaders, swindled church members around the United States. GMI elders promised members a 200% return on their money in less than half a year.
Great Ministries International @Pablito’s Way / Youtube.com
They cited Biblical scripture to get 18,000 people to give them $500 million for businesses like the “cancer-curing” Greater Live herbal remedies. Nearly all the money was hidden away or lost, and when the Justice Department caught up to them, church leaders received prison sentences of twelve to twenty-seven years.