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SEC Charges Three In “Indestructible Wealth” Religious Scam

This is one of the "best scams" we have seen in a while....

On Wednesday, September 9th, the SEC announced fraud charges and an asset freeze to stop an ongoing real estate investment scheme by three California-based business associates. The men men allegedly stole investors’ money while promising them “indestructible wealth.”

According to the SEC complaint, Paul Ricky Mata, David Kayatta and Mario Pincheira stole investor funds for their own use, and diverted much of the money to other businesses they owned. The trio raised more than $14 million from over 100 investors in California and elsewhere for two unregistered funds supposedly investing in real estate.

Promotional videos posted on Mata’s website and YouTube channel brought in investors to investment seminars titled “Finances God’s Way” or “Indestructible Wealth.” In these seminars, the...