An Arlington man is accused of using church-related organizations to defraud more than 50 people in the United States and abroad of over $3.2 million, according to federal prosecutors.
Richard Reinaldo Garcia, 53, was indicted June 2 by a federal grand jury in Fort Worth on one count of conspiracy to commit wire fraud, two counts of wire fraud and one count of aggravated identity theft, according to the U.S. Attorney’s Office for the Northern District of Texas.
Prosecutors allege Garcia and others solicited money for purported church renovation projects, Christian music concerts and other church programs by promising investors significant profits.
Garcia instead used some of the money for personal expenses and business operating costs, according to the indictment. The alleged scheme ran from August 2021 through April 2025.
Prosecutors said Garcia controlled bank accounts under the names Ministerio Gracia, Iglesia Gracia de Texas, Gracia Church of Texas and Pesar de Todo LLC.
He allegedly directed some victims to transfer money into those accounts and describe the payments as donations to Gracia Church, even though the money had allegedly been solicited as part of investment agreements.
The ventures included what prosecutors called “church flipping” projects involving church-related real estate improvements. Garcia and others also allegedly solicited investments for joint ventures to stage Christian music concerts and other church programs.
More than 50 people in the United States and other countries paid Garcia over $3.2 million as part of the alleged scheme, prosecutors said.
“The defendant allegedly took advantage of his victims’ faith by promising significant profits through investment opportunities but instead used their funds to selfishly enrich himself at their expense,” U.S. Attorney Ryan Raybould said in a statement.
FBI Dallas Special Agent in Charge R. Joseph Rothrock said the agency remains committed to investigating people who misuse positions of trust to carry out fraudulent investment schemes.
Garcia’s trial is scheduled to begin Oct. 13 in Fort Worth.
The conspiracy and wire fraud charges each carry a maximum sentence of 20 years in federal prison. A conviction for aggravated identity theft carries a mandatory two-year sentence that must generally be served in addition to any other prison term.
The FBI is asking anyone who thinks they may have been victimized in the alleged scheme to complete a questionnaire.