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Greater Ministries chronology

The Tampa Tribune, March 13, 1999
By Michael Fechter

  • March 18, 1993: Gerald Payne incorporates Greater Ministries International, offering a ``Double Your Money'' gift exchange.

  • Jan. 26, 1994: The Internal Revenue Service grants it tax-exempt status.

  • July 31, 1995: Pennsylvania regulators issue the first of two cease-and-desist orders against the money-doubling program, saying it was selling unregistered securities.

  • Sept. 28, 1995: The Florida Comptroller's office issues a cease-and-desist order, and soon after, Greater begins the ``Faith Promise'' program, which does not guarantee a return.

  • July 14, 1996: Tampa police respond to a reported robbery at Greater Ministries' headquarters. The group claims $3.5 million was stolen, and blames the IRS and other agencies.

  • Feb. 5, 1997: The 2nd District Court of Appeal overturns Florida's injunction against Greater Ministries, saying the Faith Promises concept is not illegal because the money received is donated with no assured return.

  • April 28, 1997: Greater Ministries, along with Charles Eidson and the Church of the Avenger, sue The Tampa Tribune and two other newspapers for $10 billion, accusing the papers of ``an all out attack on the mere existence of Christianity in America.'' A federal judge later dismisses the suit.

  • July 22, 1998: Colorado bank regulators and federal officials close Best Bank of Boulder, Colo., for insolvency. Greater Ministries loses about $20 million and stops monthly payments to the money- doubling program.

  • Aug. 31, 1998: California's Department of Corporations issues a desist-and-refrain order against the ministry.

  • Sept. 21, 1998: Ohio issues a cease- and-desist order.

  • Nov. 2, 1998: A Pennsylvania judge bars Greater Ministries from any financial activity with state residents.

  • Jan. 20, 1999: Pennsylvania finds Greater in contempt, and orders refunds for all transactions involving state residents.

  • March 1, 1999: A Pennsylvania judge fines Greater $6.4 million for failing to refund the money.--

  • March 12, 1999: Seven of Greater's leaders are arrested in Tampa for mail fraud, money laundering and related violations.

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