Cincinnati Man Accuses Ivy League Preacher/Promoter of Leading an Investment Scam
Tyrone L. Gilliams, Jr. has had a lot of jobs. Since graduating from the University of Pennsylvania in 1990, the former college basketball player has been a hip hop event promoter, an online preacher, and a commodities trader. It is for his alleged work as a commodities trader that he is being accused of conducting an investment scam.Cincinnati businessman David Parlin has alleged that Mr. Gilliams misappropriated investment money from a $4 million private foundation investment and used the money to pay for expensive shopping sprees, trips to the Bahamas, and extravagant outings. Much of Mr. Gilliams' life was reported in a reality show format for the internet, which apparently showed how extravagantly Mr. Gilliams spent money.
According to court documents, it is asserted that Mr. Gilliams promised investors an unrealistically aggressive 5 percent per week return on their money. Mr. Gilliams is not registered with the Financial Industry Regulatory Authority or the National Futures Association.
Other middlemen are being investigated for possible wrongdoing in this case. Other investments sold by Mr. Gilliams are also reported to be under investigation.
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