South Korean Pastor sentenced to prison for Embezzling Church Funds

Cho Yong-gi, the founder and pastor of one of the largest Pentecostal

churches in South Korea, has been sentenced to three years in prison

for embezzling church funds.

According to reports, Pastor Cho of Yoido Full Gospel Church in Seoul,

was found guilty of causing $12 million in losses to the church by

having officials in 2002 buy stocks owned by his eldest son, Cho

Hee-jun, at four times the market value.

The church was founded in 1958.

Christian Post reports:

The 78-year-old pastor, who founded the church in 1958, will also have

to pay about $4.6 million in fines. The junior Cho will also be

serving a three-year prison term for colluding with his father, the

Seoul Central District Court ruled.

According to The Gospel Herald, Cho was also found to have been

evading 35 billion won (US $3.3 million) in taxes. The elderly pastor

first came under investigation in 2011 when he was accused by 29

church elders of embezzling church funds and privatizing church

assets.

Cho was apparently given a light sentence by the Seoul court because

of his long-standing contributions to society, and will have a

five-year stay of execution.

A biographyof Cho on the English version of the Yoido Full Gospel

Church website says that the pastor, who came to faith after attending

a crusade led by American missionary Ken Tines, met Jesus in a vision

one night while he was fasting and was baptized in the Holy Spirit.

"Pastor Cho gives thanks to the Lord for his 47 years of ministry, and

has been sincerely serving 750,000 church members," the biography

states. "In the early 21st century, the church's goals for next 10

years are to build 500 prayer houses and 5,000 satellite churches in

Korea, and to expand global mission through internet broadcasting, and

to enlarge overseas mission to the third world countries, including

North Korea."

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