Roy E. Smith, pastor of the Bread of Life Church of Dominion, aka Church of Dominion, Mckeesport, Pennsylvania and later Greensburg, Pennsylvania, was charged with one count of bank fraud in connection with allegations that he falsified information submitted in connection with loan applications.
According to the information, Smith falsely represented the Church of Dominionâ€™s financial conditions in loan applications presented to financial institutions including by way of: financials statements which falsely represented the Churchâ€™s income and falsely represented that they were audited by independent accountants; a rent payment history letter that falsely represented the name of the landlord, amount of rent and rent payment history for the Church; a false award notification letter purporting to grant the Church $150,000; and false representations about the indebtedness of the Church. Smith also provided the same loan collateral to more than one financial institution without notifying them that the collateral had been previously pledged. In all, according to the information, Smith obtained $824,000 in loans based upon the false representations.
Accorrding to the Pittsburg Tribune-Review, board members of the Church of Dominion acknowledged that the loan proceeds were used for Church purposes. The article quoted Smith as saying “I had a lapse in judgment and I’m attempting to rectify it.“
The maximum penalty for a bank fraud conviction is 30 years in prison and a fine of not more than $1,000,000.