SouthLake Church Founding Pastor Admits to Role in Embezzling Up to $1M From Church and School

Wade Malloy, the founding pastor of SouthLake Presbyterian Church in Huntersville, North Carolina, could wind up in prison for five years along with other penalties after pleading guilty Wednesday to embezzling up to $1 million from the church and its SouthLake Christian Academy K-12 private school. Sixty-two-year-old Malloy pleaded guilty to one count of

wire fraud, admitting to conspiring with Wayne Parker, the school’s longtime headmaster and chief financial officer, to embezzle at least $550,000 to pay for his personal expenses, according to The Charlotte Observer. These expenses included college tuition, room and board for one of the pastor’s children, medical bills, taxes, cars and credit card bills. READ MORE