The Texas Preacher Who Used God to Steal | Bloomberg Investigates

In Tarrant County, Texas, an elderly man and former preacher advertised himself as “The Money Doctor”. He exploited the trust of his peers, skillfully hiding deceptive financial practices under a cloak of religious virtue. Bloomberg Investigates unveils the intimate story of those whose lives were destroyed by this $38 million dollar Ponzi scheme.

--------

Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.

Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.

Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.

[HKim]

lol, if someone is writing a book called "Jesus Christ, Money Master", you might want to think twice about this guy.

[NZKiwiRic]

What are the odds? A wealth preacher running an investment fund in Texas...

[RBzee]

A preacher stealing. I'm shocked! Shocked, I tell you. 🙄

[EjDantes]

Evangelicals and Prosperty Gospel have to be the most successful con in the last 100 years.

[a.a.a.]

There's so many of them out there,
hes just one of them who got caught. ⚖️

[ryanreedgibson]

There are only 6, 500 of these preachers left in Texas.

[franciscovarela]

Parole after 6 years?! He was given 3 life sentences plus 30 years. How on earth can someone who stole so much from so many (who believed he was a "Christian") be eligible for parole. He's probably got the 21 million that wasn't recovered stashed overseas. If paroled he will make a dash for this money.

[kimjohnson]

Beware of ANYONE bragging about how much integrity and humility one has. 🤔

[papagen]

"The devil can cite Scripture for his purpose." - Shakespeare

[brentstahl]

So many Texas preachers to choose from for this story. So little time....

[Starfish]

“ I totally trusted him.” That’s your first mistake

[huma]

The people in his office should have all been charged as accomplices. The fact that money was gone from the safe makes it clear that someone either tipped him off or actively removed it when the cops raided the office.

[geronimoscadilac]

The talk radio stations that aired his program should be held to account, proper vetting was never done. In fact, at least one major radio host in the Dallas market was endorsing him.

[MansaMusa]

How can someone sentenced to 3 life sentences and an extra 30 years be eligible for potential release after serving just 6 years?

[DSuelo]

Second oldest profession in the world. Learn the bible, talk about it, ask for money.

[Dimaz]

Not the first and not the last.. your generous tithe goes straight into their pockets to get another private jet

[mikeoveli]

Isn't this a long list?
I mean when the congregation is poor and the minister is wealthy, what would you call it?

[__________]

“Words are wind” - GRRM. Trust only people who live moral not the ones that say they are moral.

[echos-myron]

A guy named L. Ron Hubbard once said “If you want to make some real money, start a religion” if he can make one up off the top of his head and turn it into a billion dollar business and then target IRS agents through blackmail and lawsuits to get tax exempt status… I think the fact that these guys are so easily able to accumulate followers, is a follower problem.

[whou]

3 concurrent life sentences plus 30 years and he is eligible for parole in 6 years? Something seems off.