The News
Pharmaceutical giant Eli Lilly filed a lawsuit against Bishop Jerry Maynard Sr. and Elder Readus C. Smith III, both prominent COGIC leaders, alleging they worked with wholesalers to submit fraudulent drug reimbursement claims totaling approximately $200 million.
Why It Matters
This case is a stark reminder that denominational leadership isn't exempt from legal accountability—and that financial misconduct at the top ripples through entire networks of congregations. Whether or not these allegations are ultimately proven, the lawsuit underscores why every church needs clear financial oversight, independent audits, and transparent governance structures. Your board should know: good financial stewardship isn't optional; it's a spiritual issue and a legal necessity.
The Takeaway
Review your church's financial controls and accountability structures with your board, ensuring no single person can authorize large expenditures without oversight.