Tuesday, July 25, 2006

RELIGIOUS FRAUD --
Two former executives of a failed Southern Baptist foundation were convicted here Monday in what prosecutors said was the nation's largest fraud ever targeting members of a religious group.

William Pierre Crotts, who was president of the Baptist Foundation of Arizona, and Thomas Dale Grabinski, the group's former chief legal counsel, were each convicted of three counts of fraud and one count of conducting an illegal enterprise in a scheme that lasted decades and cheated 11,000 investors across the country of about $585 million.