Read the story here, here and here.
Update (1/23/14): Minkow has now pleaded guilty to charges he embezzled more than $3 million from the San Diego Community Bible Church. According to Fox 5 TV:
Barry Minkow, who is currently in custody after his conviction on unrelated securities fraud charges, admitted his guilt in the embezzlement case in a hearing before Magistrate William Gallo.
Minkow, who pleaded guilty to conspiracy to commit mail fraud, wire fraud and bank fraud, faces up to five years in prison when he is sentenced April 7.
“Barry Minkow pled guilty today to embezzling more than $3 million in money intended as church donations (while employed as a pastor) and concealing it all from the IRS,” said Joel P. Garland, Acting Special Agent in Charge of IRS Criminal Investigations for the Los Angeles Field Office.
“Barry Minkow has admitted not only his fraud, but his omission of over $890,000 in unreported income and over $250,000 in tax,” Garland said.
Minkow, 46, admitted to a litany of improper conduct that continued for more than a decade, including opening unauthorized bank accounts on behalf of the San Diego church, forging signatures on church checks, using funds drawn on legitimate church accounts for his personal benefit, and charging unauthorized personal expenses on church credit cards.
...Read the updated story here.
See Minkow profiled in our White Collar Rogues Gallery.