PHOENIX — Two top executives with the Baptist Foundation of Arizona were sentenced to prison Sept. 29 for orchestrating a multimillion-dollar fraud scheme. Former foundation president William P. Crotts, 61, was sentenced to eight years in prison, while former chief counsel Thomas D. Grabinski, 46, received a six-year term on fraud and racketeering charges, The Associated Press reported. Maricopa County Superior Court Judge Kenneth Fields also ordered both to repay $159 million in restitution. The two men were convicted in July after a 10-month trial.
When the nonprofit group — an agency of the Arizona Southern Baptist Convention — collapsed seven years ago, 11,000 victims lost $585 million. Seventy-five fraud victims testified at the sentencing hearing. Investors had been convinced their money would be aiding Southern Baptist causes, such as building churches. But state investigators learned the men had created a Ponzi scheme, in which new investors’ money was used to pay off old debts.
Share with others: