Christian Billionaire Charged with “Historic” Stock Manipulation Scam

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A Christian billionaire whose charitable foundation donated nearly 80 million dollars to Evangelical charities is facing criminal charges, a year after the implosion of his financial empire.

Bill Hwang was arrested this week on charges including racketeering and securities fraud. It's unclear what will happen to the Grace and Mercy Foundation, which Hwang used to create significant tax write-offs and donated millions to charities including Focus on the Family, RZIM, Youth For Christ and Fuller Seminary.

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