(RNS) — A California-based Christian college and the former publishers of The Christian Post and Newsweek have pled guilty in a scheme to fraudulently obtain $35 million from lenders, according to the Manhattan district attorney.
Thursday (Feb. 20), Olivet University pleaded guilty to one count of conspiracy and falsifying business records. Olivet President Tracy Davis represented the university in court.
Andrew Lin, who chaired Olivet’s board of trustees, also pleaded guilty Feb. 20 to a scheme to defraud. Lin was promised a non-jail sentence.
Olivet University, as part of the plea, must pay $1.25 million in forfeiture over the next two years. During those 24 months, Lin cannot serve in an executive or managerial capacity.
If these obligations are met, the university will be able to re-plead to a misdemeanor charge and will be sentenced to a conditional discharge.
Earlier this month, William Anderson, former chief executive officer of Christian Media Corporation and former publisher of the Christian Post, and Etienne Uzac, former co-owner and chairman of Newsweek Media Group, each pleaded guilty to one felony count of money laundering in the second degree and one felony count of scheme to defraud in the first degree.
The Manhattan district attorney said the money was fraudulently obtained and laundered through a network of corporate bank accounts to mask the origin of…
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