DENVER -- There's more questions about a well-known Denver pastor and his apparent business of selling insurance, which extends to hundreds inside and outside of Colorado.

Bishop Acen Phillips told 7NEWS on Monday, "The real story will look real good."

But since that meeting he has avoided telling what he calls "the real story."

A close family friend said he knew nothing about the insurance policy that Phillips took out on Shely Lowe.

"She never, Shely never discussed having signed an insurance policy," said family friend Sam Riddle.

Lowe's live-in boyfriend said he didn't know about the insurance policy and he didn't know that he was named a 10 percent beneficiary.

And Lowe's mother had no knowledge of a $100,000 life insurance policy with 90 percent of the money slated for churches run by Phillips.

"He was wrong. He was wrong for doing it. I don't understand why he did it. I don't understand why he did it. Shely never did nothing wrong to nobody. I can't do this," said Lowe's mother, Mary Lowe.

When 7NEWS Investigator Tony Kovaleski asked Phillips about the document, the bishop asked, "Where'd you get that from?"

"Is there a plausible reason for what you've seen in this policy?" Kovaleski asked Riddle.

"Yeah, pimping death and enriching oneself. That's all I can see," Riddle said.

According to the document obtained exclusively by 7NEWS, Lowe was not the only person who obtained life insurance through Phillips and his American Church United.

The AIG insurance document showed the bishop's church has obtained more than $60 million in life insurance policies for 608 policy holders and all 608 are listed as employees -- not church members.

Riddle said Lowe never said she was working for Phillips at the American Church United.

"News to me. Shely never told me she was working for Bishop Phillips," Riddle said.

Sources told 7NEWS that the bishop's role in representing church members as employees is the focus of numerous inquiries by local, state and federal law enforcement.

"This guy, this preacher, this bishop supposedly has 600 or so odd employees with life insurance policies totally $60 million. I mean, come on, something is radically amiss here. I mean this smacks of a scam of the worst -- the most repulsive kind. And we have to do something about this," said Riddle.

On Phillips' Web site, American Church United said it has a relationship with another company, Prudential Insurance.

But a Prudential executive told Kovaleski the company has never done business with American Church United and asked to have its name removed from the Web site.

Phillips' attorney told 7NEWS there is a chance the bishop will explain his actions next week. He said they need to review the facts.

Have a question or comment on this story? Or have a news tip or story idea? E-mail Investigator Tony Kovaleski or call us at 303-832-TIPS.