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  Prosecutor: Ky. pastor spent cash on Porsche
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Last EditedRP  Jun 09, 2005 08:07pm
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CategoryScandal
News DateFriday, June 10, 2005 02:00:00 AM UTC0:0
DescriptionThe Rev. Larry Davis purchased a Porsche with some of the more than $700,000 he stole from the First Baptist Church of Cold Spring - sometimes brazenly withdrawing the money at horse racetrack ATMs, a federal prosecutor says.

A seven-count federal indictment returned Wednesday says Davis submitted a false loan application to Fifth Third Bank, evaded federal income taxes for four years, and transferred stolen church money across state lines to buy the Porsche 911 and a minivan.

The indictment comes after an 18-month investigation into the finances of the church and of Davis - who helped draw the national spotlight to Cincinnati by joining a group that successfully brought the Billy Graham Crusade to Paul Brown Stadium in 2002.

The 57-year-old Davis, known for his folksy, Southern-style sermons, declined through his attorney, Patrick Hanley, to speak with reporters.
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