Vunderkind
Social Member
Reverend Yong-gi Cho, founder (and now pastor emeritus) of the Yoido Full Gospel Church in Seoul, South Korea (which is one of the largest Pentecostal churches in the world) has recently been sentenced to three years in prison for embezzling church funds. His son will also be serving a similar jail term.
Yong-gi Cho was indicted of causing the church $12 million in losses to his church. According to reports by ChristianPost.Com, Yong-gi Cho had officials buy stocks owned by his eldest son, Cho Hee-jun in 2002 at four times the market value.
The 78-year old pastor who founded the church in 1958 will also have to pay a fine of $4.6 million. His son will also be serving three years in prison for colluding with his father to rob the church.
The Gospel Herald reports that apart from the business with shares, Cho is also guilty of evading 35 billion Won ($3.3 million) in taxes. Pastor Yong-gi Cho first came under investigation in 2011 when 29 church elders accused him of embezzling church funds and privatizing the church assets.
Cho has been given a light sentence by the Seoul court because of his contributions to society, and will therefore have a five-year stay of execution.
