Pastor’s $1.6M Ponzi could mean 30-year prison stay

A Seattle-area pastor has pleaded guilty to charges of wire fraud and money laundering related to a $1.6 million Ponzi scheme he ran for eight years.

According to a story on the Seattle Post-Intelligencer website, Anthony C. Morris, 48, admitted to defrauding two dozen parishioners, promising them he could turn a quick profit, either by placing their money in an overseas trading program or by investing in property for his church.

The U.S. Attorney’s Office for the Western District of Washington said Morris promised members of the congregation of the New Covenant Christian Center returns of as much as 400%. Instead, the cash was used for the pastor’s own expenses and for his church.

In one 2007 instance described in the plea agreement, a victim provided Morris with a $30,000 loan for investment purposes on the promise that Morris would repay him, with interest, in 30 days. Despite repeated promises, the money was never repaid, the Tukwila Reporter reported on Jan. 13.

Morris is scheduled to be sentenced April 6 and faces up to 20 years in prison for wire fraud and 10 years for money laundering.