Tag Archives: BFA

Appeals Court Upholds Baptist Foundation Convictions

(Phoenix, Ariz. – June 10, 2009) Attorney General Terry Goddard today announced that the Arizona Court of Appeals has upheld the convictions and sentences of former baptist Foundation of Arizona executives William Crotts and Thomas Grabinski. In August 2006, a jury found Crotts, the foundation’s ex-president, and Grabinski, BFA’s ex-general counsel, guilty of fraud and…

Arizona Closes the Case Handout 2

July 2003 Over a period of several years, the management of the Baptist Foundation of Arizona (BFA) engaged in one of the most audacious fraud schemes on record. BFA ultimately filed for bankruptcy, and thousands of elderly investors lost their life savings. How did such a massive fraud develop? What clues did the auditors overlook?…