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	<title>Religion News Blog &#187; IPIC International</title>
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		<title>Woman sentenced in Ponzi scheme that targeted religious leaders and ministries</title>
		<link>http://www.religionnewsblog.com/23058/cynthia-setser-2</link>
		<comments>http://www.religionnewsblog.com/23058/cynthia-setser-2#comments</comments>
		<pubDate>Tue, 16 Dec 2008 09:23:56 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>
		<category><![CDATA[Cynthia Setszer]]></category>
		<category><![CDATA[George Setser]]></category>
		<category><![CDATA[Ponzi Scheme]]></category>

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		<description><![CDATA[<a href="http://www.religionnewsblog.com/23058"><img src="http://rnbpull.99streets.netdna-cdn.com/graphicspics/george cynthia setser.jpg" alt="George and Cynthia Setser" width="90" height="90" border="0" style="float:left;padding-right:5px;" title="George and Cynthia Setser"></a> Her husband Gregory Earl Setser was <a href="http://www.religionnewsblog.com/17361/gregory-setser-gets-40-years-in-import-scam">sentenced</a> to 40 years in prison for his involvement in the scheme. His sister Deborah S. Setser was convicted and sentenced to 15 years in prison and Joshua Nathan Setser was sentenced to two years in prison.<br /><br />Beginning in 2000 in North Texas, the defendants devised a scheme to induce people to enter into investment contracts with IPIC.
<br /><br />
They <a href="http://www.religionnewsblog.com/5164/misplaced-faith-stings-evangelists">targeted</a> churches, ministries and religious organizations and their pastors, leaders and members and represented to investors that IPIC was a highly successful import/export business.]]></description>
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		<title>Woman who skipped hearing pleads guilty</title>
		<link>http://www.religionnewsblog.com/21662/woman-who-skipped-hearing-pleads-guilty</link>
		<comments>http://www.religionnewsblog.com/21662/woman-who-skipped-hearing-pleads-guilty#comments</comments>
		<pubDate>Wed, 18 Jun 2008 15:21:01 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>
		<category><![CDATA[Cynthia Setser]]></category>
		<category><![CDATA[Fraud]]></category>

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		<description><![CDATA[Cynthia Setser was arrested in Florida in December, 11 months after she skipped a hearing in Dallas where she was to be sentenced for her role in a multimillion-dollar pyramid scheme spearheaded by her husband, Gregory Setser.]]></description>
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		<title>Wife who skipped religious pyramid scheme sentencing back in court</title>
		<link>http://www.religionnewsblog.com/20434/cynthia-setser</link>
		<comments>http://www.religionnewsblog.com/20434/cynthia-setser#comments</comments>
		<pubDate>Fri, 25 Jan 2008 13:52:13 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

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		<description><![CDATA[Cynthia Setser, who was in hiding for a year after skipping out on a sentencing hearing before a Dallas federal judge in a multimillion-dollar securities fraud case, pleaded not guilty this week to a charge of failure to appear.]]></description>
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		<title>Gregory Setser gets 40 years in import scam</title>
		<link>http://www.religionnewsblog.com/17361/gregory-setser-gets-40-years-in-import-scam</link>
		<comments>http://www.religionnewsblog.com/17361/gregory-setser-gets-40-years-in-import-scam#comments</comments>
		<pubDate>Thu, 01 Feb 2007 10:56:40 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

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		<description><![CDATA[Targeting mostly Christian investors, including televangelist Benny Hinn, through churches and other groups, Mr. Setser claimed that his company, IPIC Investments, could produce up to 50 percent returns by buying cheap, foreign-made products that would be sold to major U.S. retailers such as Michaels, Hobby Lobby and Costco.]]></description>
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		<title>IPIC con case only gets weirder</title>
		<link>http://www.religionnewsblog.com/17177/con-case-only-gets-weirder</link>
		<comments>http://www.religionnewsblog.com/17177/con-case-only-gets-weirder#comments</comments>
		<pubDate>Wed, 17 Jan 2007 15:54:01 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

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		<description><![CDATA[A 50-year-old Canton man facing a life sentence after masterminding a multimillion-dollar Christian-based investment scam was apparently trying to arrange to have U.N.-backed armed commandos bust him out of the federal prison, according to court testimony Tuesday.]]></description>
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		<title>Pastor to Talk in Fraud Case</title>
		<link>http://www.religionnewsblog.com/7915/pastor-to-talk-in-fraud-case</link>
		<comments>http://www.religionnewsblog.com/7915/pastor-to-talk-in-fraud-case#comments</comments>
		<pubDate>Tue, 20 Jul 2004 05:34:49 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

		<guid isPermaLink="false">http:/?p=7915</guid>
		<description><![CDATA[His lawyer says he will answer questions about Gregory Setser, accused of taking $160 million from Christians. Orange County pastor Ralph A. Wilkerson has agreed to answer questions about a former associate accused of raising more than $160 million from evangelical Christians in an elaborate international investment fraud, Wilkerson&#8217;s attorney said. Wilkerson, 77, was criticized [...]]]></description>
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		<title>Fraud Suspect Put on &#8216;Leash&#8217; Pending Trial</title>
		<link>http://www.religionnewsblog.com/6019/fraud-suspect-put-on-leash-pending-trial</link>
		<comments>http://www.religionnewsblog.com/6019/fraud-suspect-put-on-leash-pending-trial#comments</comments>
		<pubDate>Wed, 11 Feb 2004 21:51:10 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

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		<description><![CDATA[An Inland Empire man accused of masterminding an investment scam that swindled evangelical Christians out of at least $160 million has been released by a Dallas judge on an &#8220;electronic leash&#8221; pending trial, authorities said Monday. U.S. District Judge Barbara Lynn set bail terms Friday for Gregory Setser of Rancho Cucamonga, requiring that he remain [...]]]></description>
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		<title>Rancho Cucamonga man denied bail in $160 million church fraud case</title>
		<link>http://www.religionnewsblog.com/5313/rancho-cucamonga-man-denied-bail-in-160-million-church-fraud-case</link>
		<comments>http://www.religionnewsblog.com/5313/rancho-cucamonga-man-denied-bail-in-160-million-church-fraud-case#comments</comments>
		<pubDate>Sun, 07 Dec 2003 06:51:22 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

		<guid isPermaLink="false">http:/?p=5313</guid>
		<description><![CDATA[A Rancho Cucamonga man accused of bilking Christian ministries out of $160 million was ordered sent to Texas to face charges of securities fraud and money laundering. A federal judge denied bail Friday for Gregory Earl Setser and ordered the 47-year-old businessman sent to Texas to enter pleas to the charges. Prosecutors argued that Setser [...]]]></description>
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		<item>
		<title>Big Spending Led to Suspicion of Scheme Targeting Ministries</title>
		<link>http://www.religionnewsblog.com/5228/big-spending-led-to-suspicion-of-scheme-targeting-ministries</link>
		<comments>http://www.religionnewsblog.com/5228/big-spending-led-to-suspicion-of-scheme-targeting-ministries#comments</comments>
		<pubDate>Mon, 01 Dec 2003 13:07:11 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

		<guid isPermaLink="false">http:/?p=5228</guid>
		<description><![CDATA[Gregory Setser, who the SEC says owns a yacht and helicopter, built list of evangelist investors. The $2.3-million, 103-foot powerboat Gregory Setser bought in June was just a starter. The self-styled Christian investor told his yacht broker that he was prepared to drop $12 million for a 140-footer with a helipad and $30 million to [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Misplaced faith stings evangelists</title>
		<link>http://www.religionnewsblog.com/5164/misplaced-faith-stings-evangelists</link>
		<comments>http://www.religionnewsblog.com/5164/misplaced-faith-stings-evangelists#comments</comments>
		<pubDate>Mon, 24 Nov 2003 09:07:02 +0000</pubDate>
		<dc:creator>Religion News Blog</dc:creator>
				<category><![CDATA[IPIC International]]></category>

		<guid isPermaLink="false">http:/?p=5164</guid>
		<description><![CDATA[If you pledge enough money to Greenwood Village-based Marilyn Hickey Ministries, you will receive a vial of oil. It&#8217;s not just any oil. Marilyn and her daughter, Sarah, have prayed over it with two more famous televangelists. There&#8217;s even a photo of this ritual on the group&#8217;s website. The Love Of Money &#8220;If anyone teaches [...]]]></description>
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