Inspectors Warn "100 Percent Return on Investment" is Unlikely

He was a man of the cloth and the host of a TV show, but authorities say he betrayed those who trusted him by stealing millions. Here is how he did it and how you can avoid losing your money in a similar scheme.

US Postal Inspector John Marsh explained, "They claimed they wanted to donate a couple of million dollars to his charity but they needed him to send payments for them to file the appropriate paperwork to do this donation."

Pastor Samuel Solanky, who ran a charity called India at Our Doorsteps, responded to the Nigerians making that offer by sending $50,000 of his own money.

"But they kept saying we need you to pay us more in order for us to file the appropriate paperwork to give you two million dollars," said Marsh.

Authorities say that's when Solanky came up with this scheme.

"He told people if you give me an investment, you'll get a 100 percent return on your investment within three months. And I'm going to use your money to buy gemstones and diamonds in India and sell them to jewelry manufacturers in the U.S," explained Marsh

But, there was no gemstone business. Thirty-five to forty people lost about $3 million. Solanky had connected with many of the victims through other ministers.

"One victim in particular, she lost 160 Thousand Dollars. That was pretty much her life savings that she was to going to use to purchase a home for her and her family," said Marsh.

Postal inspectors say there is a lesson here.

"When someone promises you 100 percent return on an investment in three months, it's very very unlikely that's a legitimate investment," Marsh warned.

Solanky never received the $2 million promised by the Nigerian conartists. Instead he received a sentence of more than 4 years in prison on mail fraud charges.

More Stories

Don't Miss

Latest News

  • Texoma's Home Page

  • KFDX 3 Weather

  • KFDX 3 Sports


  • KFDX 3 Weather

  • KFDX 3 News

  • TexomasHomepage Mobile App