Associated Press - 6/21/2011 8:50:00 AM
LOUISVILLE, KY - A traveling evangelist has pleaded guilty to 17 counts of wire fraud that cost church-goers more than $700,000 over 15 years in an oil-and-gas investment scheme. Ernest Cadick entered the plea as his trial was set to begin in federal court in Louisville, Kentucky.
The 60-year-old Cadick was accused of soliciting the money for oil and gas ventures and foreign investments, then spending the money on himself. He's to be sentenced September 12.
Assistant U.S. Attorney Bryan Calhoun said in court documents that Cadick would quote Scripture and pray with potential victims over investments.
Rev. Bob Rodgers, pastor at Louisville's Evangel World Prayer Center, told The Courier-Journal that some retired members of his church had lost their life savings.
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