Two Ex-Tampa Church Members Sentenced

June 7, 2001

Tampa, Fla. -- Two former church members who admitted helping bilk investors out of tens of millions of dollars were sentenced to prison.

U.S. District Judge James Whittemore sentenced Andrew J. Krishak on Wednesday to 21/2 years in prison, and sentenced James R. Chambers to five years. Krishak received the shorter sentence because he had testified against his former colleagues.

Krishak and Chambers, former members of Tampa-based Greater Ministries International Church, had pleaded guilty to conspiracy. Greater Ministries ran a Ponzi scheme, in which payments to early investors were made from investments by later investors, prosecutors said.

The scheme claimed that church members could double cash investments of $250 or more in 17 months. Investigators estimated that up to 18,000 people from across the country invested as much as $500 million.

In March, a jury found five Greater Ministries officials guilty of conspiracy, wire fraud, money laundering and unlawful monetary transactions. The officials are awaiting sentencing.