Faith Based Fraud

Guest Bios Show Transcript Billions of dollars that American Christians give churches, ministries and nonprofits are stolen every year. In fact, one study estimated that in 2015 alone, $50 billion was squandered in fraud! How do we stop this shocking theft of God’s money? And how do we ensure that the money we give is spent the way we intended? In this episode of The Roys Report, Julie talks with Warren Cole Smith, president of MinistryWatch, who shares riveting stories about some of the biggest conmen and Ponzi schemes the church has ever known. But Warren also gives the inside scoop on how these frauds were exposed, and how Christians can work for substantive change. Warren Cole Smith Senior Fellow, Colson Center After several years of growing the Colson Center’s reach and impact by creating partnerships with key Christian leaders and strategic Christian organizations around the country, Warren is now the President of Ministry Watch. Warren previously served as Vice President of WORLD News Group, publisher of WORLD Magazine and has more than 30 years of experience as a writer, editor, marketing professional, and entrepreneur. Show Transcript SPEAKERS WARREN COLE SMITH, JULIE ROYS JULIE ROYS 00:00 American Christians are arguably the most generous people in the world, giving about 850 billion dollars a year to charity. Yet we may also be the most gullible and a huge amount of that money is squandered every year in fraud. In fact, in 2015 alone, it was estimated that $50 billion was stolen from the money that Christians gave to churches, ministries and other nonprofits. Welcome to the Roys Report, a podcast dedicated to reporting the truth and restoring the church. I’m Julie Roys. And joining me today is Warren Cole Smith, the author of Faith Based Fraud, a new book that documents decades of fraudulent activity by Christian organizations. It is an eye opening book and it exposes some of the worst hypocrisy and theft that’s happened in the name of Christ over the past three to four decades. And in some ways, I’ve got to admit, it can be a painful topic to explore. None of us, especially those of us who call ourselves Christians like to look at some of the absolute worst representatives of our faith. It’s embarrassing, and it can be demoralizing. But that’s not where Warren’s book leads us. Instead, it explores different solutions to the problem. And truly one of the solutions is for people like you and like me to be better informed and wiser donors. So thank you for joining us today. I think you’re going to be really glad that you did. And I think as a result of listening, you’re going to be better equipped to spot, and then to avoid, the charlatans that are out there. But before I introduce Warren, I’d like to thank the sponsors of the Roys Report, Judson University and Marquardt of Barrington. Judson University is a top ranked Christian university providing a caring community and excellent college experience. Judson has resumed in person classes for traditional, transfer and adult students. And you can choose from more than 60 majors and learn in a Christian community known for its spiritual values, leadership opportunities and strong financial aid. Judson is located on a beautiful 90 acre campus just 36 miles northwest of Chicago. Judson University is shaping lives that shaped the world. For more information, just go to Judsonu.edu/visit. Also, if you’re in the market for a car I highly recommend my friends at Marquardt of Barrington. Marquardt is a Buick GMC dealership where you can expect honesty, integrity and transparency. That’s because the owners there, Dan and Kurt Marquardt, are men of character. And I’m proud to partner with them for this podcast. To check them out, just go to buyacar123.com. Well, again, joining me today is Warren Cole Smith, author of the new book, Faith Based Fraud. He’s also the president of Ministry Watch, an organization dedicated to bringing transparency and accountability