Terry Wayne Millender and his wife, Brenda Millenderwere founding members of Micro-Enterprise Management Group. The company was supposed to help people in developing countries by providing loans and help expand businesses. According to Alex Times, the couple got investors for their Christian mission and assured them their money would be used to help the poor.
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They also promised guaranteed rates of return and said the loan principal would be “safe and backed by the assets of MEMG.” The Millenders weren’t using the money for their mission. They also promised to give back their investments to those who gave money, but blamed it on the 2008 financial crisis.
After that the couple created another company called Kingdom Commodities Unlimited. It allegedly was to broker Nigerian oil deals, they received loans and received investments totaling $600,000. A jury found the Millenders’ guilty of their company to be false and fraudulent. The two face up to 20 years in prison and will be sentenced on March 30th.