Ponzi ruling: Pay $11 mil to churchgoers
The ruling crowns a three-year investigation by the Corporation Commission into Valley-based Nakami, which investigators say targeted churchgoers as part of a Ponzi scheme, including at least one pastor, church elders and members of Chandler Christian Church and Vineyard Church in Avondale. None of the principals could be reached for comment Friday. Purvis has denied any wrongdoing. Wolfe last year agreed to turn state's evidence and admitted to investigators that he and Purvis for years funneled millions of dollars in investors' money into offshore accounts as part of the scheme.
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