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Press Release

Victims Sue Youngest African American CEO Ephren Taylor, Claiming to Have Been Scammed in a Series of Ponzi Schemes

>PRWEB.COM Newswire

Fort Lauderdale, FL (PRWEB) December 01, 2011

In an action filed in Federal District Court in Raleigh, North Carolina, (Case Number 5:11-cv-00547-BO), hundreds of individuals all across the United States have added their voices to a growing chorus accusing Ephren W. Taylor II, “America's youngest African American CEO of a public company,” of operating a series of brazen Ponzi schemes that enriched him but left dozens of victims destitute. The complaint alleges that many of the victims lost their entire life savings after entrusting Taylor with their money following his visits to their churches promising guaranteed financial returns in ventures that would also benefit less fortunate people, local communities and the individuals’ churches.

The class action lawsuit filed in October 2011 accuses Taylor and other individuals and financial institutions who allegedly helped him perpetrate his Ponzi schemes, of wire fraud, interstate transportation of stolen property, money laundering, racketeering, violations of the RICO Act and a number of other serious violations.

“During the past month I have been contacted by hundreds of victims who entrusted Ephren Taylor and the co-defendants with their hard-earned money but ultimately were left badly bruised, clinging to broken promises and depleted bank accounts,” said Cathy J. Lerman, Founder of Cathy Jackson Lerman, PA, which filed the class action suit.

Lerman has assembled a team of respected attorneys to pursue justice on behalf of the victims. This includes David Schiller, principal of Schiller & Schiller, PLLC law firm in Raleigh, North Carolina who serves as local trial counsel, and Jim Gitkin of Salpeter Gitkin, LLP in Fort Lauderdale, Florida who serves as co-counsel. Schiller and Gitkin both have earned excellent reputations as trial lawyers, and are well-known for their integrity and dedication to their clients.

Red Banyan Group, a deeply experienced strategic communications firm, has also joined the litigation team to provide public relations counsel, and to assist the law firms with handling ongoing media interest in the case.

The full text of the class action lawsuit against Ephren Taylor is available in the Newsroom at http://www.lermanfirm.com. Cathy Lerman continues to make herself personally available to talk with victims with first-hand knowledge of the Ponzi schemes, as well as individuals with information that may assist the litigation team in pursuing justice for these victims.

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Read the full story at http://www.prweb.com/releases/2011/12/prweb9005764.htm

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