Evangelist sentenced to 48 months in prison for defrauding investors

Herald-Leader, Kentucky/September 19, 2011

A traveling evangelist who took hundreds of thousands of dollars from would-be investors in a phoney oil and gas business was sentenced Monday to 48 months in prison.

Ernest Cadick, 60, of Elizabethtown, also was ordered to pay $719,650 in restitution and fined $1,600 for conducting the scheme between 1994 and 2008, according to a news release from the U.S. Attorney's office in Louisville.

Cadick, who operated Kingdom Oil, told his victims that their money would be invested in oil and gas ventures and overseas businesses, but instead he spent the money on himself, according to the news release. He pleaded guilty to 17 counts of wire fraud in June.

Court documents stated that Cadick would quote scriptures and pray with people about their investments after he met them at church functions and through contacts with churches.

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