Key Biscayne parish defrauded of $500K
Source: Anglican Ink
St. Christopher’s By-the-Sea Episcopal Church in Key Biscayne, has been rocked by allegations of large-scale financial misconduct. Police have confirmed they are investigating a possible fraud scheme involving roughly $519,000 siphoned from parish bank accounts.
The Key Biscayne Independent reports church officials discovered irregularities in financial records this summer, prompting immediate contact with law enforcement and the diocesan office. Local police have not released details about suspects or the specifics of the alleged scheme, citing the ongoing nature of the investigation.
The financial shock has caused deep concern among St. Christopher’s congregation, many of whom fear the impact on church operations, outreach ministries, and staff. Vestry members are cooperating with investigators and conducting a full internal audit with the assistance of the diocesan administrator.
The Episcopal Diocese of Southeast Florida has pledged support and oversight. A spokesperson stated, “We are providing pastoral care and financial guidance to St. Christopher’s as the matter unfolds. The diocese takes matters of fiduciary responsibility with utmost seriousness,” the Independent reported.
Most CPG policies only cover up to $50K in these cases. That underscores why it’s important to have an annual audit. Not a compilation. Not an AUP.
Yes, people like to moan and groan about the cost, but did St. Christopher’s actually save any money (assuming it was not doing a full annual audit) in the end?