Updated:Bishop Eddie Long is appealing to an investment company to return almost $1 million to members of New Birth Missionary Baptist Church.
Long went on YouTube to ask City Capital Corporation and its former CEO, Ephren Taylor, to return the money after some investments went bad.
"We found out later that some of our members had made some investments in IRAs and retirement accounts," said Long, as he looked into a camera. "And through that collectively, about $1 million has not been returned. The investment has gone sour."
Long does not explain why he thinks the money should be returned. In the video, he explained that New Birth hosted a financial seminar last year featuring Taylor and afterward several church members invested money with him.
"Please do what's right," Long said, apparently to Taylor. "You're a great fella, a great man. You do great things. Let's settle this so these families can move on."
Channel 2 Action News reporter Richard Elliot learned Taylor resigned as CEO of City Capital last year. Company stock, once worth $20 a share, now trades for a penny a share. The Better Business Bureau of Los Angeles gave City Capital an "F" rating and stated in a report, "complaints allege a pattern of unfulfilled agreements, failure to honor their money back guarantee and difficulty contacting the company."
Taylor released a statement Monday evening which stated in part: "The legal team has been working since last year with individuals to legally and privately resolve, refund, and restructure any potential issues."
Long does not accuse Taylor or City Capital of any wrongdoing. And Long stresses that neither he nor New Birth profited from the financial seminar.
"I wanted to let you know New Birth received, nor myself, any financial blessing or gift from Ephren Taylor or City Capital," said Long. "It was strictly done to help our members and members of the community to grow and have a life."