Queens Minister Rev. Isaac Ovid Stole $10M from Congregants at Local Christian Assembly Church: feds

Another snake in the pulpit has been arrested and with good reason. Apparently Rev. Isaac Ovid not only carried out his spiritual duties to the congregants at Local Christian Assembly Church in Forest Hills, NY, he allegedly offered private financial services to them. They were fleeced to fund his lavish lifestyle. Ovid was arrested on Monday by FBI agents in Tampa and is awaiting extradition to Brooklyn, where a federal grand jury is hearing evidence of his scheme.

The complaint alleges that nearly $10 million of investor money collected through investment companies set up by Ovid and other senior members of the church cooperating in the probe was misappropriated or lost between October 2004 and December 2005.

The misspent funds included extravagant office renovations, jewelry, clothing, meals and a $200,000 Bentley luxury auto purchased by Ovid, according to the complaint.
"The car payments, which exceeded $2,500 per month, were also paid with ... investors' funds," said FBI agent Daniel Quinn in the arrest warrant affidavit. Ovid and the other senior church officials, who are not identified in the complaint, allegedly paid more than $1 million in corporate credit card charges with investors' money. Investors were promised returns of up to 75% with minimal risk, and the victims included church members who were blind, retired or disabled. Source: NY Daily News

Folks, it is high time people realize that they cannot possible make returns on their investment of up to 75% with minimal risk. That is a lie and a criminal lie at that. People need to stop being persuaded into making wrong financial choices on the basis of trusting the fast talking dealmaker too readily. I hope the congregants kick this man out of their church once he has posted bond. If found guilty, he deserves to be in general population at Riker's Island. I can't find his picture, but as soon as I locate one I will upload it.