Tag Archives: felon

C3 Leaders Idolising Pringle’s Criminal Mentor Yonggi Cho & Misleading congregants

25 Thursday Feb 2016

Posted by in C3 & Pringles Associations, Uncategorized

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THE FACTS OF YONGGI CHO’S DANGEROUS BEHAVIOUR

David Yonggi Cho has recently spoken at C3 Church Oxford Falls. What makes his invitation so scandalous is how C3 leadership are deliberately lying to their congregation in their attempt to cover up the fact that Yonggi Cho is a convicted criminal.

“Cho was charged with causing around 13.1 billion won in damages to his church and evading approximately 3.5 billion won in taxes in the process (embezzlement as defined in the Act on the Aggravated Punishment of Specific Economic Crimes). In addition, Pastor Cho’s oldest son Cho Hee-jun, 49, former chairman of the Yeongsan Christian Culture Center, was given a three-year prison sentence and taken into custody.” [Source]

Because of this, he is disqualified to pastor at all, ever again because of his criminal record, his unruly son, his public reputation and his love for money (Read 1&2 Timothy). We also consider Yoido Full Gospel Church a cult, considering “International Apostle” Cho is accountable to no one – not even his elders who tried to blow the whistle on his crimes:

“Yoido Full Gospel Church has suspended or expelled 28 elders for not withdrawing legal accusations against senior pastor David Yonggi Cho, 77.
The punishments are a form of retaliation for blowing the whistle on alleged misdeeds by Cho and his son Hee-jun, 48.” [Source] [Emphasis ours]

Yonggi’s disciple, Phil Pringle, has no allowing this cult leader, criminal and illegal pastor to speak at his church. Instead, Pringle recently stated on Instagram that Yonggi Cho has “Faced many challenges and has remained true”.

True to what Pringle?

C3 LEADERS WORSHIPING PRINGLE’S CRIMINAL MENTOR

Christian McCudden wrote on Instagram,

Amazing night in Sydney with Ps @philpringle and Dr Youngi Cho, amazing download of wisdom, faith and inspiration. #gratefulforourleaders

Source: Christian McCudden, Instagram, https://www.instagram.com/p/BCKgWA7LWxN6Yd42p8Gdsgiyw19JAWtg9AmMro0/, Published 24/02/2016. (Accessed 25/02/2016.)

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Pringle put this out on Instagram,

Loved #Leaderstablesessions yesterday with Dr David Yonggi Cho from Seoul, who has led an 800,000 people congregation for many years. Faced many challenges and has remained true. 80th birthday. Thanks@john_pearce for hosting#superpastorsday @C3OF#powerofdreamsandvision Dr Cho speaks again tonight 7pm C3 Oxford Falls. All welcome. #seeyouinchurch

Source: Phil Pringle, Instagram, https://www.instagram.com/p/BCL-srgNP16/, Published 25/02/2016. (Accessed 25/02/2016.)

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[More C3 hero worship will be posted here as they surface.]

Convicted felon Kong Hee claims convicted felon Yonggi Cho is his ‘Spiritual Father’

11 Thursday Feb 2016

Posted by in C3 Ministry, C3 Singapore Scandal

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In spite of their lies, blasphemies and crimes, pulpit criminals like Kong Hee and David Yonggi Cho still choose to stick together. Before reading the Christian Post article, we would like to highlight some of the things Kong Hee mentioned in this piece.

1. “Cho’s teaching on the Holy Spirit and the Fourth Dimension has been nothing short of transformative in our generation”

“Transformative” Kong? Yes. But for the better? No.

Yonggi Cho’s Fourth Dimension are founded on his pagan background, his fascination with the Soka Gakkai, his influences with the NAR, the demonic encounters he claims to be the Holy Spirit teaching him about the ‘Fourth Dimension’. You can learn more about his theology from our review of his ‘Fourth Dimension’ teaching on Yoido Full Gospel Church Watch.com.

2. “Kong has also praised the major growth of Christian megachurches in South Korea during his recent trip to the country, noting that it has seen “one of the greatest revivals in the last 100 years” of Christianity occur there.”

This is a lie. This article exposes the fact that David Yonggi Cho’s church is an utter failure and that the churches of Korea long for the days of the early martyred missionaries who brought revival and the Word of God.

Lamenting the infiltration of “secularization and pervasive mammonism” into the Korean church…

These men continue to deceitfully praise each other’s false works in their attempt to stengthen each other’s credibility and profit from the gullible “Christians” in their Prosperity cults. They refuse to accept the fact that their friends are guilty before God and before their earthly courts of law.

 

The Christian Post reports,

Kong Hee Says His ‘Spiritual Father’ Is Pastor David Yonggi Cho of Yoido Full Gospel Church

Singapore’s City Harvest Church pastor Kong Hee has praised Pastor David Yonggi Cho and Grace Kim Sunghae of Yoido Full Gospel Church, the largest Pentecostal Church in the world, as being “one of the most amazing couples in the history of Christendom.”

Kong also said that Cho, who founded Yoido in 1958 and saw it grow into a congregation of 830,000 members, has accomplished “things of biblical proportions very few could imagine possible.”

The CHC pastor explained in a detailed post on Facebook some of the history behind South Korea’s Yoido, noting that Cho, who is now its pastor emeritus, also founded several other Christian institutions, including Church Growth International, Elim Welfare Town, Hansei University, the International Theological Institute, and the Kookmin Daily newspaper.

“Cho’s teaching on the Holy Spirit and the Fourth Dimension has been nothing short of transformative in our generation,” Kong wrote.

He added that Kim has also accomplished a great deal helping her husband in five decades of ministry, noting that she is an accomplished concert pianist, educator and ordained minister of the Gospel, along with the current president of Hansei University.

“Most of all, she is a ‘mother’ to hundreds of pastors, missionaries and churches in Korea and around the world,” Kong wrote.

“Sun [Ho] and I are blessed to have Cho and Kim as our spiritual parents. Cho is our pastor and discipler, and Kim our encourager and intercessor,” he continued.

“During our recent trip to Seoul, we were honored again to spend private, quality time with both of them, and also with some of their closest disciples. I was given the privilege to preach at the 40,000-member Nowon Full Gospel Church, as well as the famous Gangnam Full Gospel Church, a congregation fervent in prayer and intercession.”

Kong has also praised the major growth of Christian megachurches in South Korea during his recent trip to the country, noting that it has seen “one of the greatest revivals in the last 100 years” of Christianity occur there.

“They have been consistently baptizing 1,000 new converts every month! If you ask any Korean church what is the key to their success, the answer is unanimous — PRAYER!” he wrote last week, referring to Yoido’s success.

Both Kong and Cho have faced controversies and their own separate court battles, however. Kong was convicted and sentenced to eight years in prison last year along with five other CHC members of misusing millions of church donations for the popstar career of Ho, an accusation which he denied and has appealed against.

Cho, on the other hand, was sentenced to three years in prison in 2014 for embezzling church funds, concerning church officials buying stocks owned by his eldest son, which resulted in $12 million in losses to the church.

Yoido remains the largest megachurch in South Korea despite the controversy, however.

In his Facebook post, Kong noted that Cho will be celebrating his 80th birthday later in February, and said that he sends his prayers “for this dear man of God on his special milestone.”

Source: By Stoyan Zaimov, Kong Hee Says His ‘Spiritual Father’ Is Pastor David Yonggi Cho of Yoido Full Gospel Church, Christian Post, http://www.christianpost.com/news/pastor-david-yonggi-cho-yoido-full-gospel-pentecostal-church-spiritual-father-kong-hee-156662/Published 03/02/2016. (Accessed 08/02/2016.)

Phil Pringle invites convicted felon, Yonggi Cho, to speak at C3 Church Oxford Falls.

10 Wednesday Feb 2016

Posted by in Pringle's Business, Pringle's Influences, Uncategorized

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“Pay careful attention to yourselves and to all the flock, in which the Holy Spirit has made you overseers, to care for the church of God, which he obtained with his own blood. I know that after my departure fierce wolves will come in among you, not sparing the flock; and from among your own selves will arise men speaking twisted things, to draw away the disciples after them.” Acts 20:28-30

We here at ChurchWatch have followed, and documented the scandal Dr Yonggi Cho was involved in. It was not long ago that this man was found guilty of serious charges. On 20 February 2014, Cho was found guilty of tax evasion, sentenced to three years imprisonment, suspended for five years, and fined the equivalent of almost $5 million. His oldest son Cho Hee-jun was sentenced to three years imprisonment. The charges arose from Cho’s church purchasing shares from his son’s church at above market value and fraudulently claiming tax relief.

To this day, Phil Pringle continues to lie by omission, praising Yonggi Cho but neglecting to tell his church of Cho’s crimes.

David Yonggi Cho Church Fraud Investigation? (Part 6) Ps David Yonggi Cho – Convicted

“Cho was charged with causing around 13.1 billion won in damages to his church and evading approximately 3.5 billion won in taxes in the process (embezzlement as defined in the Act on the Aggravated Punishment of Specific Economic Crimes). In addition, Pastor Cho’s oldest son Cho Hee-jun, 49, former chairman of the Yeongsan Christian Culture Center, was given a three-year prison sentence and taken into custody.”

It comes to our attention that Phil Pringle has invited this false prophet to speak at C3 Church this Thursday February 25. We leave it up to our readers to decide on the appropriateness of this invitation for Yonggi Cho to speak as a church “leader” rather than as a convicted felon, (a person convicted in a court of law of a felony crime).

David Yonggi Cho is not only a false (which disqualifies him from Christianity), he also has disqualified himself as a Christian pastor. These are the requirements of a pastor:

“An overseer, then, must be above reproach, the husband of one wife, temperate, prudent, respectable, hospitable, able to teach, not addicted to wine or pugnacious, but gentle, peaceable, free from the love of money. He must be one who manages his own household well, keeping his children under control with all dignity.” 1 Timothy 3:3 (Emphasis ours.)

The things we highlighted in bold are areas he failed in relation to the financial scandal he was involved in and how he ruthlessly treated his elders. And because Cho is a swindler, why is Pringle inviting David Yonggi Cho to speak as though he is a figure of high integrity? Pringle is directly opposing Christ, His Word and His Church with this clear command in scripture:

“But actually, I wrote to you not to associate with any so-called brother if he is an immoral person, or covetous, or an idolater, or a reviler, or a drunkard, or a swindler– not even to eat with such a one.” 1 Corinthians 5:11

And yet C3 hypocritically state “we love Jesus and people”?

C3 Church Oxford Falls stated on their instagram,

We love Jesus and people. Sat 5pm + Sun 830am 10am 6pm Oxford Falls // Sun 10am Wahroonga + Avalon + Manly // #everyONEmatters#sydneyacityforchrist www.c3churchjournal.com/news-on-the-go/

Source: C3 Church Oxford Falls, Instagram, https://www.instagram.com/p/BBioskhQN09/, Published 09/02/2016. (Accessed 09/02/2016.)

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Here is the video:

[Click to download]

 

 

Apprising Tackles Pringle, Houston, Kong & Giglio At Global Presence Conference 2014

14 Tuesday Jan 2014

Posted by in C3 & Pringles Associations

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Apprising reports,

LOUIS GIGLIO STANDS WITH PHIL PRINGLE, BRIAN HOUSTON, AND KONG HEE AT C3 CHURCH

By  on Jan 9, 2014 in AM Missives, Current Issues, Features

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Apprising Ministries continues with our documenting for you The Falling Away Of The Evangelical Church. Even a few years ago who would have thought Word Faith Heretics Like Creflo Dollar Draw Nearer To Evangelical Acceptance. Yet the apostasy has continued to grow.

We’ve reached the point where we even see Francis Chan Has Endorsed New Apostolic Teacher Mike Bickle. Now I’ll point out to you that Louis Giglio will be sharing the platform with blatant Word Faith preacher Phil Pringle of the C 3 Church (C3) movement in April.

As is typical of Word Faith (WF) organizations, Scripture is ignored and C3 is led by pastor Phil along with his wife pastrix Chris aka Mama Chris:

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It would seem Louis Giglio doesn’t have a problem with women acting as elders as he’s had Beth Moorepreach a Sunday morning service at his own church.1 The fact is, Giglio is set to be one of the “voices” for Phil Pringle’s C3 Church Presence Conference 2014 (C3 2014) this coming April 22-25.

As you can see, Louis Giglio is set to be on the platform at C3 2014 along with WF preachers like Pringle, Brian Houston, and Kong Hee:

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However, we’re really not surprised because this isn’t the first time Giglio has shared the platform with WF preachers; he was already at Houston’s infamous annual Hillsong Conference back in 2012:

Evangelist Louie Giglio, speaking during the last day of the Hillsong Conference in Sydney Friday, shared about how he was lifted by God’s grace from a more than two-month struggle with the physical and emotional symptoms of stress and depression. (source)

Looks like that message would fit in just fine at a self help-style WF conference. Another time we’ll look further at Brian Houston; however, for our purposes here, you should know that Houston is the ring leader of the nefarious WF Hillsong Church, Australia.

In fact, Houston’s lead pastor along with his wife pastrix Bobbie; and two years ago we even saw Beth Moore To Speak For Hillsong Church. Houston’s also growing in stature with the burgeoning Evangelical Ecumenical Magisterium (EEM) as well.

This is evidenced e.g. in this tweet from EEM leader Mark Driscoll back on May 5 of 2012:

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You may also recall that EEM junior member Judah Smith regularly preaches for Brian Houston’s HC conferences. And you need to know that now Houston’s even got the kind of clout necessary within the apostatizing visible church to land two of the biggest names in Christendom for HC’s 2013 conference.

Notice that Smith shared the podium with EEM godfather Rick Warren and Word Faith self help guru Joel Osteen as I previously showd you in Joel Osteen Moving One Step Closer To Mainstream Evangelicalism:

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Rick Warren was there at HC as far back as 2006 and he returned the favor a couple of years ago with Word Faith Preacher Brian Houston Of Hillsong Australia Speaking At Saddleback Church. By the way HC Conference 2013 also featured Word Faith mogul T.D. Jakes.2

Now consider that Phil Pringle has been able to land both Brian Houston and Louis Giglio; and so it seems that Pringle himself is now moving more into the mainstream. 2012 appears a busy one for this cross pollination of theology; and sure enough, Pringle’s move would begin that year as well.

It happened when he brought in highly influential EEM prophet-pastor Steven Furtick to his C3 2012 conference:

What I am trying to do here is to help you see that there’s a real convergence of evangelicalism with the biggest names in the Word Faith movement; Giglio standing with such as these will now serve to further align his Passion/268 Jesus Generation movement with their own WF movements.

We should also find it of interest to note that Hillsong United, which originated at Houston’s HC, is slated to entertain the young at Giglio’s upcoming Passion 2014; and in addition, former Hillsong pastrixChristine Caine will also once again share the podium with Louis Giglio there at Passion.3

Are we really to think that all of this interbreeding is truly happening by some sheer coincidence? Finally, Giglio will be at Phil Pringle’s C3 2014 with Kong Hee, an up and coming WF pastor. You may recall that name from Rising Word Faith Pastor Kong Hee Arrested For Alleged Misuse Of Church Funds.

Then there was the disturbing idolatry of CHC Youth Worship Of Kong Hee And His CHC? Therein I informed you that Hee is founder of the largest church in Singapore, City Harvest Church, where he is pastor along with his wife pastrix Ho Yeow Sun, also known in the pop music world as Sun Ho.

Below Kong Hee compares himself to Jesus Christ and shares some direct revelation where Hee claims God actually thanks him for going through his trial and even apologizes to Hee that, like Jesus, he has to bear it alone:

Here’s the bottom line: Louis Giglio has considerable credibility within evangelicalism, New Calvinism, and with the young, restless, and reformed. Yet it’s this kind of spiritual lunacy in the Lord’s Name that he decides to lend his credibility to; and now that I have dared to be critical of Phil Pringle, let me quickly close.

For you see, I guess I’d better be afraid…be very afraid,,,because apparently, according to Pringle, God might actually kill me for opposing his spiritually bankrupt WF fables.4 But this is what the Lord says to Pringle et al:

2  false prophets also arose among the people, just as there will be false teachers among you, who will secretly bring in destructive heresies, even denying the Master who bought them, bringing upon themselves swift destruction. 

2 And many will follow their sensuality, and because of them the way of truth will be blasphemed. 3 And in their greed they will exploit you with false words. Their condemnation from long ago is not idle, and their destruction is not asleep. (2 Peter 2:1-3)

…

Endnotes

  1. http://bit.ly/1cD52sk, accessed 1/9/14. ↩
  2. http://bit.ly/19VpNSs, accessed 1/9/14. ↩
  3. http://268generation.com/passion2014/atl/who/, accessed 1/9/14. ↩
  4. http://bit.ly/1lROAX8, accessed 1/9/14. ↩

Source: Ken Silva, Louis Giglio Stands With Phil Pringle, Brian Houston, And Kong Hee At C3 Church, Apprising Ministries, http://apprising.org/2014/01/09/louis-giglio-stands-with-phil-pringle-brian-houston-and-kong-hee-at-c3-church/, 09/01/2014. (Accessed 12/01/2014.)

C3 Asheville Scandal – The Wolf & The Ostrich (Part 8)

29 Friday Nov 2013

Posted by in C3 Asheville Scandal

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Related articles:

C3 Asheville Scandal – C3 Pastor Facing Prison (Part 1)
C3 Asheville Scandal – C3 Pastor “Pleads Guilty In Bank Fraud Case” (Part 2)
C3 Asheville Scandal – Sweetmans Do Nothing Against Fraudulent C3 Pastor? (Part 3)
C3 Asheville Scandal – Four “People… Have Pleaded Guilty” Including “[C3] Minister… Nicholas Dimitris” (Part 4)
C3 Asheville Scandal – C3 ‘Pastor’ Nick Dimitris: The Liar (Part 5)
C3 Asheville Scandal – Massive Financial Judgment Against C3 Asheville Pastor Nick Dimitris (Part 6)
C3 Asheville Scandal – While Dean’s Playing Slick, Nick’s In The Knick (Part 7)

EITHER DEFEND A WOLF OR GET OFF THE C3 CHURCH BOAT?

Dean Sweetman (overseer of the C3 Church Americas), has dodged the vast majority of questions put to him on this web site. However, the big question that remains unanswered is how Dean could have possibly allowed Nick Dimitris to remain in his C3 Pastoral position for so long, all the while turning a blind eye to what was apparent to so many others, remaining deaf to the entreaties of Nick’s victims (and marginalising the victims of the felon he was so keen on defending), and ignoring the advice of those who have shown far better judgement than himself.

When C3 Pastor Nick Dimitris was found guilty and was awaiting sentencing, we recalled a churchwatcher quoting Dean for upbraiding those in C3 Asheville with the ultimatum,

“your either with us and Nick or get off the boat”.” [Source]

Now Nick has now been sent up the river on “the boat” for a year and day. Wasn’t Dean Sweetman on the same boat as Nick Dimitris? Why isn’t the C3 leadership with Nick? When did they conveniently get off?

It’s a tragedy that Dean’s precious pastoral protege is being packed off to prison.

Does Dean think that maybe Nick didn’t tithe enough? Dean is surely aware that Phil has “prophesied” over Kong Hee, (serial plagiarist and confessed crossover deceiver), that “Not one day shall this fair head spend behind bars”. Couldn’t Dean have asked the one and only Phil Pringle, (that great globe-trotting apostle), to pray for Nick’s protection, and thereby have kept him out of the slammer?

This whole shabby affair further tarnishes the already none-too-stellar reputation of C3, and provides a stark object lesson of how prosperity cults in their lust for success and wealth, are quite willing to sacrifice the innocent in order to preserve the positions of the powerful and privileged New Age gnostics who run the show.

ostrich dean sweetman

THE OSTRICH OVERSEER

Dean Sweetman stated,

“Re Asheville, I will not be commenting until the court proceedings are over. Even when there is a full resolution you will not find me tearing people down publicly on an Internet blog.
If you know me you know that my intentions we [sic] good and I continue to believe for a strong healthy C3 Church in Asheville.” [Source]

Among other churchwatchers who wrote how they witnessed the majority of C3 Asheville church members leave, another churchwatcher asked Dean,

“Still choosing to stay silent on Asheville Dean? Hoping it will go quietly into the night and vanish? Not willing to address it at all?” [Source]

Dean stated,

“… All I can say at this stage is that we are awaiting the outcome of the trial and are hopeful things will be resolved favorably for all concerned.” [Source]

In other news, we were informed on Monday by the District Court that Nicholas Dimitris was scheduled to be sentenced Tuesday 11/26/13, in Asheville at the Federal Courthouse at 10:00 AM in Courtroom # 1 on the 3rd floor.

His Attorney was David G. Belser.  The Asst. US Attorneys assigned to prosecute Mr. Dimitris’ case were Don Gast and Michael E. Savage.

If for some reason David G. Belser, Don Gast and Michael E. Savage asked Dean to remove Nick Dimitris as a C3 Pastor before his sentence, would Dean say the same thing to them as he did to us? How can the C3 Church Movement afford to have Dean Sweetman as an overseer if his head is full of sand?

Phil Pringle must be absolutely livid at how all this has played out, and all the more so given that damning details of exactly what has transpired have become public knowledge thanks to the internet. Imagine what it would be like to have been a fly on the wall when Dean had occasion to discuss this matter with Phil Pringle. Perhaps Dean would be willing to share with us the gist of that particular conversation?

C3 Asheville Scandal – While Dean’s Playing Slick, Nick’s In The Knick (Part 7)

27 Wednesday Nov 2013

Posted by in C3 & Pringles Associations, C3 Asheville Scandal

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If you are not familiar with the C3 Asheville scandal, please update yourself with our articles here:

C3 Asheville Scandal – C3 Pastor Facing Prison (Part 1)
C3 Asheville Scandal – C3 Pastor “Pleads Guilty In Bank Fraud Case” (Part 2)
C3 Asheville Scandal – Sweetmans Do Nothing Against Fraudulent C3 Pastor? (Part 3)
C3 Asheville Scandal – Four “People… Have Pleaded Guilty” Including “[C3] Minister… Nicholas Dimitris” (Part 4)
C3 Asheville Scandal – C3 ‘Pastor’ Nick Dimitris: The Liar (Part 5)
C3 Asheville Scandal – Massive Financial Judgment Against C3 Asheville Pastor Nick Dimitris (Part 6)

A few years ago Nick Dimitris stated,

“Emily and I want to update you on some news about our family and the circumstances that has arisen. Over two years ago we purchased property from some folks who are currently under a federal investigation in pursuit for multiple proprieties. These individuals and the bank that provided the financing were allegedly involved in illegal behaviour.

Although we had no knowledge of their misbehaviour, we’ve been required to participate with the federal government in this case since we were the buyers. This has put us in a very difficult position and cooperation was not an option in the matter. Our testimony now is a very critical part of the case against these individuals.

You may have seen information about this in the media. And if so, please realise that the media is very good at misconstruing facts, which is misleading at best. Nevertheless, it sells papers. We cannot control what the media does or how they represent the circumstance.  But let me assure you church, the facts of the matter have been given to our overseers and a team of leaders within the church.”

Moving along, the Citizen-Times reports,

ASHEVILLE — Three men were sentenced to federal prison Tuesday for their roles in an elaborate scheme to obtain more than $23 million in illegal loans to forestall failure of the bankrupt Seven Falls development.

Robert Craig Gourlay, David G. Smith and Nicholas Dimitris conspired with developer Keith Vinson in a case that Judge Martin Reidinger described at the hearing as “a scourge on this community.”

“This is a case where the concerted actions of a few people brought down two banks,” the judge said in U.S. District Court in Asheville. “Not only was it serious wrongdoing, it was very harmful wrongdoing.”

Reidinger sentenced Gourlay, chief credit officer at Pisgah Community Bank, to 15 months in prison. Smith, a loan officer with the bank, received nine months. Dimitris, a minister and real estate investor, got 12 months.

Seven Falls filed for bankruptcy in 2009. The luxury development was planned to accommodate 900 homes and an Arnold Palmer-designed golf course on 1,400 acres, potentially adding $1.25 billion to Henderson County’s tax base.

Prosecutors said Vinson had “straw borrowers” take out illegal loans to buy lots in hopes of preventing foreclosure. Vinson was unable to borrow more money because of rules designed to limit banks’ exposure to any one borrower.

Gourlay and Smith authorized loans involving millions of dollars to straw borrowers, while Dimitris served as such a borrower on loans made by the bank, receiving kickbacks in return, according to criminal complaints filed in 2011.

The three are among 10 codefendants who reached plea deals with prosecutors, leaving only Vinson to stand trial. He was convicted by a jury last month on all 13 counts he was charged with, including conspiracy to commit bank fraud, conspiracy to defraud the United States, misapplication of bank funds, wire fraud and money laundering.

Reidinger ordered Vinson held without bond until sentencing. He faces up to 30 years in prison, according to prosecutors.

The judge said that in sentencing of Gourlay, Smith and Dimitris, he took into account their cooperation with the government in the case against Vinson. Gourlay and Dimitris testified at the trial.

But Reidinger pointed out that Bank of Asheville and Pisgah Community Bank failed as a result of the scheme. Such crimes serve to undermine the banking system, he said.

“When citizens don’t have confidence in the banking system, the economy collapses,” the judge said.

Prosecutors said Vinson began Seven Falls with a $25 million bank loan to be repaid with money from the sale of lots. He ran out of money in 2008, when the economy tanked and sales dried up. That’s when Vinson and his fellow conspirators came up with a “lot loan scheme” involving straw borrowers.

Former Bank of Asheville President George Gordon “Buddy” Greenwood pleaded guilty to bank fraud charges and was sentenced in May 2012 to four years in federal prison. According to court records, Greenwood was involved in illegal loans to Vinson totaling nearly $6.8 million.

Vinson and six other codefendants, including former Pisgah Community Bank President Thomas “Ted” Durham Jr., await sentencing.

Source: Clarke Morrison, 3 get prison in Seven Falls case – Three men get terms for conspiring with Vinson in loan scheme, http://www.citizen-times.com/article/20131127/NEWS01/311270022/3-get-prison-Seven-Falls-case?nclick_check=1, 26/11/2013. (Accessed 27/11/2013.)