ARLINGTON, Va. – A Virginia woman who pleaded guilty in connection with a $1.3 million scheme that defrauded members of a church congregation and other investors has been sentenced to 30 months in prison.
The U.S. Attorney’s Office for the Eastern District of Virginia announced 48-year-old Grenetta Wells was sentenced Friday for her role as chief operating officer of Micro-Enterprise Management Group, a company that purported to help poor people in developing countries establish or expand businesses through microfinance but instead used investor money to conduct risky trading.
Wells worked alongside CEO Terry Wayne Millender, the former senior pastor of Alexandria’s Victorious Life Church, and his wife, Brenda Millender, to solicit investors by emphasizing MEMG’s Christian mission.
Wells must also pay restitution.
The Millenders were convicted in December and are awaiting sentencing.
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