A Christian concert promoter has been ordered to pay almost $5 million for misleading investors and misusing funds that were supposed to go toward events that “spread the message of Christ.”
A United States federal court issued a summary judgment against Lighthouse Events and its founder Jeffrey E. Wall this week, finding Wall and his organization had “fraudulently rais[ed] more than $3 million in unregistered offerings from approximately 145 investors.”
Lighthouse books Christian acts at churches and venues across New England. Last year’s lineups included Needtobreathe, Danny Gokey, for King & Country, Sanctus Real, and Kirk Cameron. The company drew in financial partners by inviting them to help spread the gospel through its shows, promising to pay back the investment plus 20 percent after the events.
The money was supposed toward deposits on summer festivals. The Securities and Exchange Commission (SEC) filed a civil complaint accusing Lighthouse Events ...1