An Arlington man with ties to multiple North Texas churches now faces federal charges after authorities say he ran a years-long investment fraud operation that drained millions of dollars from trusting congregation members and their families.
,Richard Reinaldo Garcia was indicted on charges of conspiracy to commit wire fraud, wire fraud, and aggravated identity theft., ,Federal investigators say the scheme ensnared more than 50 victims across the United States and internationally, costing them a combined total of over $3.2 million.,
,According to the indictment, Garcia and an unnamed co-conspirator promised investors significant returns through what prosecutors described as “church flipping” projects, in which church properties would supposedly be renovated and sold for profit., ,In another scheme, Garcia and his co-conspirator convinced investors to put money into joint ventures for Christian concerts in foreign countries, promising to share profits from ticket sales with investors.,
,One example cited in the indictment is that Garcia allegedly raised money from multiple donors for a church mission trip to Africa, only for the money to go elsewhere., ,Investigators also allege Garcia made what they describe as “lulling payments,” small amounts sent to reassure investors the ventures were legitimate and encourage them to contribute even more money.,
,Garcia allegedly controlled bank accounts held under church-related entity names such as Ministerio Gracia, Iglesia Gracia de Texas, and Gracia Church of Texas, directing victims to transfer funds into those accounts and label the payments as donations., ,Garcia then used the funds to pay for his personal living expenses.,
,The identity theft charge stems from Garcia’s alleged use of another person’s name and address without authorization on business formation documents filed with the Texas Secretary of State.,
,Garcia was arrested in May at DFW International Airport and was later released on bond following a preliminary hearing., ,He is scheduled to stand trial in federal court in Fort Worth on October 13.,
,If convicted, Garcia faces up to 20 years in federal prison for each count of wire fraud and conspiracy, along with a mandatory consecutive two-year sentence on the aggravated identity theft count.,
,The FBI’s Dallas Division is actively seeking potential victims in the Garcia investigation and has posted questionnaires in both English and Spanish for anyone who believes they were victimized or has information relevant to the case., Investigators say responses are voluntary and that victim identities will remain confidential.
,The FBI believes Garcia primarily targeted church congregants, their relatives, and their friends., Authorities say information submitted through the questionnaire could help identify additional victims, support the ongoing investigation, and determine eligibility for restitution and other rights under federal or state law.
All charges against Garcia are allegations. He is presumed innocent unless and until proven guilty in a court of law.