By Tim McGlone
The Virginian-Pilot
© April 4, 2012
NEWPORT NEWS
Opening statements are scheduled for this morning in the federal fraud trial of a local religious broadcaster and a business partner accused of using a Ponzi scheme to bilk investors out of more than $ 750,000.
Samuel B. Jacobs, owner of WJHJ, a low-watt Internet and television station on UHF channel 39, faces 29 counts of mail fraud, money laundering and forgery. His codefendant, Christopher C. Rice, faces 23 related counts.
The indictment says that Jacobs, Rice and a group of pastors formed an investment company called Allied Financial Services. Some of the pastors who invested used their church funds, church members' donations and life insurance policies, the indictment says.
Jacobs and Rice are accused of bilking 80 to 100 investors between 2005 and 2009. While some early investors were repaid, that money came from later investors, which is typical of how a Ponzi scheme works, prosecutors said.
Together, Jacobs and Rice spent the investors' money on personal and business expenses without telling the group, with Jacobs using some money to make payments on his house in Hampton, his broadcasting company's debts and a 36-foot Trojan tri-cabin boat, the indictment says.
Jacobs maintains in his defense that he was the victim of the collapse of the economy. He also said in court filings that the pastors are partially at fault for dropping out of the investment plan and that he had been faithfully making repayments to them.
Prosecutors and defense attorneys spent Tuesday choosing a jury at the Newport News U.S. District Courthouse. Prosecutors will begin presenting evidence today after opening statements. The trial is expected to last two weeks.
Jacobs and his company, JBS Inc., operated the Christian ministries station from Newport News. The broadcast station appears to have ceased operations. The company phone has been disconnected and the station's website is no longer operating.
The company still has an active FCC license.
Tim McGlone, 757-446-2343, tim.mcglone@pilotonline.com
Read More @ Source 
AN AMERICAN FRAUD: One Lawyer's Case against Mormonism "Each of us has to face the matter--either the Church is true, or it is a fraud. There is no middle ground. It is the Church and kingdom of God or it is nothing."--LDS President Gordon B. Hinckley, April Conference, 2003.
Many Mormons assume that this and other similar proclamations by Mormon Leaders are rhetorical statements. But what if the LDS leaders meant something else? It is estimated that more than 1-1.5 million Mormons have resigned from the LDS Church since 1995. An American Fraud exposes why there is such a recent, formal abandonment of Mormonism by, in many cases, previously devout members of the Church.
Admittedly, the LDS Church stands or falls on the divinity of the Book of Mormon which is not a translation of ancient American history engraved in "reformed Egyptian," on golden plates buried by an early American prophet. Instead, this key Mormon scripture has been shown to be a 19th-century work of fiction authored by Joseph Smith and perhaps others. Historically, most members of the Church of Jesus Christ of Latter-day Saints, the Mormons, rarely read outside the strictly proscribed canonized scriptures, books and magazines approved by Church leaders. But over the past 10-15 years, Mormons have begun to discover facts about LDS history that had only previously been known to very few, mainly scholarly historians of Mormonism. Through the discovery of these primary historical sources, now available on numerous internet sites, most intelligent and curious Mormons have reached a critical point and are furious. If they read, they have become disaffected and disoriented. Many are experiencing existential crises.
The first third of An American Fraud: One Lawyer's Case against Mormonism, ! chronicl es the Author's journey out of the Religion. The second two-thirds of the Book, the last six chapters, are an exposé including an analysis under the law. The Author, an experienced civil trial attorney, places the activities of Mormon Leaders over almost two centuries in their proper legal framework, analyzing not only the misrepresentations, but the resulting damages: political, environmental and especially psycho-social. Ms. Burningham writes that a determination of whether Mormon Leaders have historically misrepresented the origins of LDS theology does not involve a judicial evaluation of the truth of religious beliefs and is therefore not beyond the reach of the American legal system--it is not constitutionally barred. The issue is not whether Jesus Christ is the Son of God, or the efficacy of prayer. These things could never be determined by a secular court of law. Instead, the fraud committed by generations of Mormon leaders is that they have misrepresented the facts surrounding the source of their scriptures, presenting that source as divine, when they have known otherwise.
Neither the golden plates, nor the writings by the Old Testament prophet Abraham, claimed to have been inscribed on purchased Egyptian papyri, ever existed. Furthermore, the claimed visitations by biblical apostles to restore lost priesthoods to Smith and his colleagues never occurred. Yet for decades LDS leaders have at least ignored, if not suppressed and grossly misrepresented, what has been proven to be the true facts surrounding Mormonism's origins, reworking and re-packaging the founding facts and the theology as necessary. Those who joined the Church or continued on in the Religion reasonably relied on LDS leaders' misrepresentations to their significant detriment. Given what has been proven about its sources, the Author claims that the Mormon Religion cannot continue to be defended under any pretext as a religious org! anizatio n for the good of its members.
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