MINNEAPOLIS (CN) – The court-appointed receiver for a $45 million Ponzi scheme seeks $2.2 million from the Living Word Christian Center, which it got from Ponzi operator Gerard Cellette Jr., according to the complaint in Hennepin County Court.
Cellette pleaded guilty in March 2009 to 36 counts of securities fraud, the receiver says. Cellette admitted he used his company, Minnesota Print Services, to get investors to put money into “fictitious printing contracts.” He promised 10 to 12 percent returns in 30 to 90 days.
Cellette admitted in his guilty plea that he gave some of the millions he raised “to family members, friends, and several charitable organizations.”
The Living Word Christian Center, of Brooklyn Park, Minn., got $2,220,908 via 129 donations from Cellette, the receiver says. He wants it back.
The receiver seeks $135,000 and a snow plow from Go Ministries in a separate complaint.