Tuesday, October 27, 2020

Pastor pleads guilty to bank fraud, ID theft, laundering money through church


A South Carolina pastor pleaded guilty Thursday to bank fraud and identity theft, having used his job as a bank manager to get loans and lines of credit for elderly customers and launder the money through his church.

Tony McElveen Jr. managed a BB&T in Robeson County while also pastoring at Greater Faith World Outreach Church across the border in Florence, S.C., said a news release from U.S. Attorney Robert Higdon Jr. in Raleigh.

McElveen used the money obtained through two customers to pay for rental cars, a home security system and hotels in Myrtle Beach. He also closed a $50,000 certificate of deposit belonging to one of the elderly victims and made payments on his delinquent mortgage.

The pastor tried to hide his financial doings by depositing some of the bank money in the church’s operating account and withdrawing it for his own use. He opened an account in the church’s name at BB&T and disguised a $28,500 loan withdrawal as a donation from the elderly victim.

- Advertisement -

“This defendant’s crime is simply despicable,” Higdon said in the release. “Whether you see it as taking advantage of vulnerable, elderly individuals, whether it’s his effort to disguise his criminal activity by using his position as a bank officer, or whether he abused his role as a trusted pastor, Mr. McElveen’s actions are beyond horrible.”

McElveen ran for mayor of Florence in 2016. One of his campaign platforms was “ban the box,” which would have kept employers from asking about criminal history on job applications.

“If a man or a woman paid (their) debt to society,” he wrote on his campaign Facebook page, “then their debt have been paid.”

U.S. District Judge Terrence Boyle set his sentencing for August. The pastor faces up to 30 years in prison and a $1 million fine for bank fraud and a mandatory two-year term for aggravated identity theft.

- Advertisement -


Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World


Latest News

This Week

Former Harris County deputy constable pleads guilty to transporting drug money and heroin

A former Harris County deputy constable and her husband pleaded guilty Wednesday to charges of conspiracy to possess with intent to distribute heroin, according...

Spanish police arrests operator of Crypto Arbitrage firm Arbistar on fraud charges

The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Actress Felicity Huffman complete full sentence for role in college admissions scam

Felicity Huffman has completed her full sentence for her involvement in the college admissions scandal. As of Sunday, she has finished her sentence, which included jail...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks