Former Charlotte, N.C., Pastor Wade Malloy Found Guilty of Stealing Up to $1 Million from Church

Wade Malloy
Wade Malloy

A former pastor has admitted stealing from a Mecklenburg County church and school he co-founded.

US Attorney Jill Rose announced that 62-year-old Wade Malloy of Stanley pleaded guilty Wednesday to wire fraud for embezzling between $500,000 and $1 million from the Huntersville church and its affiliated school.

A sentencing date has not been set.

According to court documents, Malloy conspired with Wayne Parker Jr., the school’s headmaster who oversaw both the school’s and church’s finances, between 2000 and August 2014. Prosecutors say Parker wrote checks to Malloy higher than his salary called for and paid for Malloy’s personal expenses, including college tuition, cars, and medical and credit card bills.

Parker was sentenced last month to 60 months in prison. He must also pay $6.6 million in restitution.

SOURCE: AP