Florida Evangelist Arrested for Fraud and Money Laundering

In a recent development that has drawn significant attention, a board member of a Florida televangelist organization has been arrested in a large-scale scheme that defrauded churches, religious organizations, and their leaders of over $160 million. Federal officials have stated that Torsten Thomas Henschke, a 48-year-old German citizen, and four others associated with the International Product Investment Corporation, Inc. (IPIC), were taken into custody on charges of securities fraud and money laundering. The indictment was unsealed on November 18, following an investigation by federal prosecutors.
Henschke, described as the international director of IPIC Atlantic, recently began promoting an initial public offering by IPIC. He is also a minister and a member of the board of directors for Christ for all Nations, a ministry based in Orlando, Florida, led by televangelist Reinhard Bonnke. Bonnke, known for his large international crusades, has a following that claims he has raised people from the dead. The involvement of such a prominent figure underscores the gravity of the allegations and the potential impact on the broader Christian community.
At the center of the IPIC scandal is Gregory Earl Setser, a 47-year-old self-proclaimed former minister accused of exploiting his connections to highly visible evangelical Christians. Setser was the president, CEO, and chairman of IPIC and three related companies, according to the indictment. SEC attorney Toby Galloway described Setser’s actions as “robbing Peter to pay Paul but only after taking a massive cut for himself, his family, and his affiliates.” This characterization highlights the alleged exploitation of relationships for personal gain, a theme that resonates with biblical calls for integrity and accountability.
Since July 2000, Setser and his associates, on behalf of IPIC and the Home Recovery Network Inc., have raised over $160 million by fraudulently offering and selling unregistered securities to members of evangelical Christian congregations. The complaint does not specify the identities of the alleged victims, which is a common practice in such cases to protect the privacy of those involved. Setser used his relationship with retired charismatic preacher Ralph Wilkerson, an early investor, to meet new prospects and sell IPIC securities. This network of influence and trust is a critical element in understanding the scale and reach of the alleged fraud.
The case raises important questions about the responsibilities of church leaders and the need for transparency in financial dealings. The Bible calls for justice and the protection of the vulnerable, as seen in Micah 6:8, which emphasizes doing justice, loving kindness, and walking humbly with God. In the context of this case, these principles serve as a reminder of the ethical obligations that accompany positions of influence within religious communities. The pursuit of accountability and the protection of victims remain central to the broader mission of promoting justice and integrity in all aspects of life.

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