REPAYMENT ordered security fraud case
Wednesday, August 8th 2001, 12:00 am
By: News On 6
A Tulsa minister has agreed to repay nearly $680,000 to members of his church. Bruce Gilliam had been accused of securities fraud and bilking the money from his church and insurance clients.
He had reportedly promised them investment returns of ten to 30% each month. Skeptical state officials aren't sure Bruce Gilliam will be able to make the payments. They say he spent half the money and sent a good portion of it to a man in Central America.
Just Tuesday, consumer advocate groups announced that religious fraud is becoming a growing crime.