2023-08-02 20:09:50
Georgia: Federal authorities have launched an international manhunt for a Georgia fugitive accused of diverting more than $30 million collected from Christian charities that was intended to be spent on Bible distribution in China.
According to a federal indictment unsealed Tuesday, 45-year-old Jason Gerald Schenck accepted more than $33 million in donations from charities and individuals — money he promised he would use to produce and distribute Bibles and Christian literature but diverted it.
Schenck spent regarding $1 million on diamonds and precious metals, $7 million on his family farm, $320,000 on real estate in Chile, $4 million on 16 life insurance policies, $850,000 on shares in a private U.S. nuclear company, and $820,000 on credit card payments. Invested $1 million in an online sports betting site—which was later shut down for alleged fraudulent activity.
He went to great lengths to cover his tracks, the indictment claims. Schenck directed the fund to various shell corporations with bank accounts around the world to “conceal the nature of the transactions.”
He even sent completely fabricated spreadsheets — containing fake statistics regarding how many Bibles were distributed to various Chinese provinces — to the charities he was defrauding, according to the indictment.
All the while, prosecutors say, he repeatedly lied to international banks regarding who he was and how much money he and his family had. Schenck even renounced his U.S. citizenship in 2016—allegedly because he wanted to avoid financial reporting requirements under federal law. Warrants have been issued for Schenck’s arrest, which may involve extradition given the international nature of the search.
Schenck faces charges including four counts of wire fraud, three counts of international money laundering, 13 counts of money laundering, transactions over $10,000 and one count of failure to file a foreign tax return. He might face up to 20 years in prison, fines and forfeitures.
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