Megachurch pastor waives arraignment on securities fraud charges - FOX5 Vegas - KVVU

Megachurch pastor waives arraignment on securities fraud charges

Posted: Updated:
DEKALB COUNTY, GA (CBS46) -

Megachurch pastor Wiley Jackson waived his arraignment Friday in DeKalb County court on securities fraud charges.

Rev. Jackson, of Gospel Tabernacle Church, and his brother Rodney Jackson, were named in an eight-count indictment handed down in December.

CBS Atlanta News first exposed the brothers' questionable investment company called Genesis, LLC in 2010.

Former church members who invested with Genesis paid at least $12,000.

Allegedly, the company was not licensed to issue investment contracts.

According to the indictment, Abbey Shanks of Locust Grove lost $10,000 when she invested in Genesis in 2002.

"He said there was no risk," said Shanks, who CBS Atlanta News interviewed in Dec. 2012.

Shanks said Wiley Jackson promised investors that they wouldn't lose money.

The indictment also listed two other investors, Jo-Lynn Gilliam and Sharon Stone.

During an interview with CBS Atlanta News in 2010, Gilliam and Shanks said dozens of church members invested in the Jackson brothers' company.

It is unclear when Wiley Jackson will go to trial.

Copyright 2013 WGCL-TV (Meredith Corporation).  All rights reserved.

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