Responding to a lawsuit accusing Dallas-based Gateway Church of financial fraud, Gateway Elder Tra Willbanks assured congregants over the weekend that the church has “independently audited financial statements since 2005.” However, a “seasoned CPA,” told The Roys Report (TRR) that Gateway did not conduct any audits during his time on staff, from 2011-2014.
Read MoreThe Church of Jesus Christ of Latter-day Saints’ furtive investment strategy ultimately resulted in it being fined by the SEC earlier this year. The move likely stemmed from a deeply rooted belief that by keeping a low profile and minimizing how much it shared about its inner workings, the church could avoid criticism from hostile outside forces looking to attack it.
Read More(EXCERPT) “Faith-Based Fraud,” by Warren Cole Smith, is a new book on financial and other scandals in the church. Almost a chapter centers around Bernard Madoff, who confessed to one of the largest Ponzi schemes in history.
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