An Horry County judge recently awarded Krystal Renee Thornhill, pastor at Charity African Methodist Episcopal Church in Huger, a judgment of more than $3.3 million in the case. The trouble now is finding the man who took her money six years ago.
Thornhill met Theodore Collins at an annual church seminar in Myrtle Beach in 2005, where Collins presented a program called “Trust Your Church,” which encouraged people to invest with his Trust Management Associates….
Collins told Thornhill that the $99,000 she invested would accrue 35 percent returns annually and that she would receive $3,500 every 40 days, according to court filings. Bank records show that Thornhill’s money and another investor’s $1 million instead went into an account used to fund purchases such as airline and hotel reservations, meals at chain restaurants and furniture.
My Civil Procedure professor in law school used to talk about the “Holy Trinity” of litigation:
1. A defendant who is legally liable;
2. A plaintiff who was legitimately injured by #1;
and
3. A defendant who can pay the judgment, or an insurer who will pay it on behalf of the Defendant.
This lady seems to have ##`1 and 2, but #3 seems problematic.
If “stupid” were a defense, this lady wouldn’t have gotten anything. If somebody tells you they are going to pay you 35% return on an investment and you beileve it you are well…
A fool and their money are soon parted.
My reaction was similar, David Keller. It is amazing to me that people take these claims seriously.
35% returns on investments don’t exist unless you’re working for The Sopranos, and even then, you step out of line and you’ll lose your kneecaps, or worse.
DUH…