2007
Joshua Nathan Setser, of Canton, Texas, was convicted on January 16, 2007, in the U.S. District Court, Northern District of Texas, Dallas Division, Cause No. 3-03:CR-381-M, on one count of securities fraud and aiding and abetting. He was ordered to serve 24 months in federal prison, followed by six months of home confinement including three years of supervised release. Deborah J. Setser was convicted on January 31, 2007, in the U.S. District Court, Northern District of Texas, Dallas Division, Cause No. 3-03:CR-381-M, on one count of conspiracy to commit mail fraud and wire fraud, one count of conspiracy to commit money laundering, one count of money laundering and aiding and abetting, and one count of securities fraud and aiding and abetting. She was ordered to serve a total of 15 years on federal prison, followed by three years of supervised release. Gregory Earl Setser was convicted on January 31, 2007, in the U.S. District Court, Northern District of Texas, Dallas Division, Cause No. 3-03:CR-381-M, on one count of conspiracy to commit mail fraud and wire fraud, ten counts of wire fraud and aiding and abetting, one count of mail fraud and aiding and abetting, one count of conspiracy to commit money laundering, five counts of money laundering and aiding and abetting, and one count of securities fraud and aiding and abetting. He was ordered to serve a total of 40 years in federal prison, followed by three years of supervised release. The three defendants, along with two others, were ordered to pay $61,602,032.00 in restitution to approximately 1,700 victims. The defendants were charged with unlawfully running a massive Ponzi scheme targeting churches, ministries, religious organizations.