As $18 million evaporates in an alleged Ponzi scheme, a bankruptcy trustee has sued the Nashville megachurch of controversial preacher Maury Davis, seeking the return of some $176,000 in contributions from the scam company to the church.
Church member Terry Kretz, founder of the now-collapsed Hanover Corp., explains his particular ministry as follows:
"The whole premise of Hanover Corporation was to help people who had lost money in the market in general," he testified.
"You know, our whole thing was about a regeneration of funds for folks. That was our premise. And then alongside of that is — we're believers in Jesus Christ and religious people, and our thing was to fund the Kingdom of God, and that is where we stand with it."
As detailed nearly a year ago when the company first began to unravel, some parishioners blame the influence of the church for what happened to their cash:
"Those guys are all saying 'Terry's a great guy,'" remembered Adam Hutton, a chiropractor who cashed in retirement savings to invest $50,000. "And if you can't trust your pastors, who can you trust?"