Just yesterday I found this in my inbox from an anonymous source. They managed to transcribe excerpts from Jim’s 2014 indictment video before it got taken down. This person claims that Staley had re-uploaded the video to youtube after the guilty plea. Screen shot below.
Video: Jim Staley Explains Indictement – Passion for Truth Ministries
Published on Youtube: May 3, 2015 (Filmed in 2014)
Video description: In a very powerful and emotional service Pastor Jim opens up his chest and bears all. He explains all the facts of the case and shares some amazing dreams and visions that people had that led up to this moment.
Transcribed excerpts from video:
7:45 – “I’m going to unload and unpack everything right now”
8:05 – (Jim says he’s going to explain the allegations of wire fraud)
8:50 – 13:05 – (the product) was in the process of the securities exchange commission, securitizing it so that it could be a mutual fund; That’s how popular the product was. And so, with the company that I went on board with, everything seemed to be fine. I didn’t sell very much of it, I only sold, I think 11 clients that I had under this particular product. And everything seemed to be going well until, many of you know, the sub-prime mortgage crisis. The entire market collapsed, everything collapsed because of that. And a lot of people lost a phenomenal amount of money in that. The whole market collapsed 40 percent, everybody lost 401K’s, 40 percent right off the bat. And some of you in this room probably just now are going over break even from that time period. Well my clients were no different and our product was directly tied to the sub prime mortgage and the lending, because it was a loan product. And all of my clients lost their money in this product.
13:05 – 14:05 – And so in that process, you know, I just told them the truth. I didn’t have anything to hide. I didn’t do anything wrong. And I already went through it with the state, so I told them the same story, they interviewed me a couple times and it was over with. So I thought. And so, believe it or not, I know it doesn’t make any sense to you, it doesn’t make any sense to my attorneys, but three years later, or three and a half, almost four years later, the federal system has decided to open up a case against me because they believe that the product that I was selling is a fake product. They believe that it was not a real product, they believe it was a fake product, that I was involved in some sort of investment scheme, and that I was purposely trying to steal money, or take money from my clients. One of whom was a friend of our family.
14:05 – 14:16 – And so, from their perspective, they believe that I’m a criminal. And it’s now my understanding that, and I guess on one hand I can understand their perspective, this is all they deal with.
14:38 – 15:12 – And so they have pegged me into this ummm, ummm, yeah, a monster. I mean they believe that I’m a traditional con-man. And it doesn’t matter what I say, as a matter of fact, one of the frustrating things I understand that frustrates than is that my story has been the same, and that I have been telling the truth and that frustrates them. Because they are normally dealing with criminals that they can trip up. Well, there’s noting to trip up, (laughs) because I just tell them exactly what happened.
1:04:10 – 1:04:24 – My attorney thinks that they don’t even have a case. And can’t believe. By the way, from our knowledge I’m the only one indicted. The owners of the company don’t even get indicted. None of it makes sense.
1:06:25 -1:06:40 – Even though I am innocent in the charges, I’ll be honest with you, I deserve it, there’s a lot of stuff I did when I was a kid that I got away with. (crowd laughs).
1:08:01 – 1:08:15 – It’s time we get over ourselves, it’s time we stop pointing fingers at one another. We’ve all sinned and fallen short of the glory of G-d. Although I may be innocent, it’s OK. The Lord’s gonna have his way in my life and yours.
1:10:32 – So that’s my story, and I’m sticking to it.
That was his story in 2014. Nearly a year later he comes out with this video:
This video was published on May 3, 2015. Click here to read Staley’s guilty plea agreement (PDF)
It has also been reported that his wife has been defending her husband on his public face-book page.
Never plead guilty to “stealing money” but he did plead guilty to 4 counts of wire fraud. The dictionary defines fraud as:
“Fraud is deliberate deception to secure unfair or unlawful gain.”
[This page will be updated as the story progresses. If anyone has any verifiable information please send it to me.]