VALLEJO (KPIX 5) – Earlier this month, KPIX 5 reported about leaders of a Bay Area church embroiled in an alleged illegal real estate scheme. The victims: all parishioners, who said they were brainwashed into investing their life savings.

Since the story aired, we heard from other former members, some who admit they took part in the alleged scheme.

Robert Clark still remembers his first day at General Assembly’s former church in Berkeley 26 years ago. The building now belongs to a different congregation. “It was 1986 and I was 12 years old,” he said.

Clark said as General Assembly grew its leaders Lacy Hawkins and later on Michael Parker became more controlling. “It was a subtle stroking of your conscience until you bend,” said Clark.

Related Coverage:
Ex-Members Recall Lives Under Total Control
Church Leaders Under Investigation For Alleged Scheme

Clark said he was talked into leaving his successful real estate job to use his skills in a new church venture, called Stellar Enterprise, run by Parker. “It was extremely secretive,” he said.

Meetings were held after church services and behind closed doors. Clark says his job was to buy and flip properties.

The money came from hundreds of parishioners, who mortgaged homes and drained retirement accounts on the promise of generous returns and even salvation.

Clark admits at first, he profited. “I began to make money, and lots of money,” he said.

But he believes when Parker realized how much the commissions were, he changed the rules and put Clark on salary. “I went from receiving an average of $20,000 a month in commissions to $1,600 every two weeks, in the form of a paycheck,” he said.

Clark admits he was suspicious but kept quiet. Other employees also grew suspicious.

“The books were only open to a select group,” said Stanley White, also a former church member.

White was hired to pump up business in the congregation. But White said even he could never get details on investment properties, such as the so-called Woodlands of Ascension project in Louisiana. “It was nothing saying ok here is the address you can take a look at it,” he said.

According to White, construction work on the mystery development never started. In an earlier interview with KPIX 5, church elder and stellar CEO Michael Parker said, “Hurricane Katrina happened.”

But the Army Corps of Engineers said part of the Louisiana property was a swamp even before Katrina. Parker said he paid close to $3 million for the property.

Former employees said that failed investment was Stellar’s last. In 2006, the company suddenly shut down, leaving investors with nothing.

“Eventually the gimmick of shuffling real estate and receiving new investments to pay your old investments, the game stops,” said Clark.

He left General Assembly in 2007. “I felt angry, I felt unclean,” he said.

In a twist of fate, Clark has discovered he is a victim as well. He owes close to $1 million in taxes on real estate commissions that he said church leaders pocketed in his name.

“I really feel taken,” he said.

Attorneys for the church leaders confirm they switched Robert Clark from getting real estate commissions to getting a salary, but they claim he was being paid at competitive rates.

Whatever their explanations, state investigators have been looking into their finances: A judge has issued a ruling on the case and we could hear the results any day now.

Sources also told KPIX 5 the state Attorney General is also looking at possible criminal violations, something the AG’s office has neither confirmed nor denied.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Article source: http://sanfrancisco.cbslocal.com/2013/03/15/ex-bay-area-church-members-describe-alleged-real-estate-scheme/

Firm’s CEO Robert Fakhimi Wins National Award

WALNUT CREEK, CA–(Marketwire – March 14, 2011) – The MassMutual Financial Group has announced that the San Francisco Bay Area Insurance Agency, under the leadership of CEO Robert Fakhimi, has earned an eighth Massachusetts Mutual Life Insurance Company’s (MassMutual) National Chairman’s Trophy. With this most recent trophy, Fakhimi’s agency has received the prestigious award for performance in eight of the last nine years.

MassMutual has an extensive field force of more than 5211 agents in 84 national offices. The Chairman’s Trophy reflects an individual agency’s accomplishments in revenue growth, recruitment and productivity. Only a select group of general agents win the award annually.

“My team always puts our clients first and everyone is highly motivated to do an exceptional job,” Fakhimi said. “Our support services and I consistently dedicate ourselves to encouraging the career field agents to reach their full potential and work effectively with clients to help them achieve their financial goals.”

The San Francisco Bay Area Insurance Agency has produced numerous outstanding career professionals since General Agent Robert Fakhimi joined as head of the office in 2001. Agents from San Francisco Bay Area Insurance Agency are top performers — the office has produced esteemed Freshman Five honors five times in the last seven years. This year the agency led all MassMutual Agencies in Annuities Production as well as overall total premium. The Agency is headquartered in Walnut Creek, with additional offices in San Francisco, Roseville, Fremont and Milpitas.

About the San Francisco Bay Area Insurance Agency LLC

With roots going back to 1891, the San Francisco Bay Area Insurance Agency LLC is a significant contributor to the local economy, as shown by the following figures about the San Francisco Bay Area Insurance Agency and its detached offices (as of December 31, 2010):

• More than 36,000 policyholders and clients¹

• Managing over $863 Million in assets (including assets and certain external investment funds managed by MassMutual and its subsidiaries)

• More than $4.7 billion in life insurance face amount in force²

• Will return more than $8.3 million in dividends to its participating policyholders in 2009³

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay Area Insurance Agency LLC. Headquarters is in Walnut Creek and branch offices are located in San Francisco, Fremont and Milpitas. Mr. Fakhimi can be reached at 888-803-3631, ext. 320 or by e-mailing him at rfakhimi@finsvcs.com. Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, member SIPC, Inc. 2121 N. California Blvd. Suite 395 Walnut Creek, CA 94596 (925) 979-2300.

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit massmutual.com.

¹ An insured, owner, or payer of a MassMutual policy or contract.
² Amount of individual life insurance in force at the end of the period related to products issued by Massachusetts Mutual Life Insurance Company and its subsidiaries, C.M. Life Insurance Company and MML Baystate Life Insurance Company. 
³ The amount of dividends to whole life policyholders in 2009.

Contact:
Erica Zeidenberg
925-631-0553

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Article source: http://www.marketwire.com/press-release/MassMutuals-San-Francisco-Bay-Area-Insurance-Agency-Awarded-Chairmans-Trophy-Eighth-1410497.htm