FRESNO - Sherman Smith, 73, of Monterey, was indicted today on seven counts of wire fraud, U.S. Attorney McGregor W. Scott announced. According to court documents, Smith was the executive pastor of a church in Clovis.
Smith allegedly induced investors, including church congregants, to give money to the church by representing that the money would be used to finance a real estate development project for the benefit of the church. Smith made appeals from the pulpit, via email, and in person for monies to pay off the church’s mortgage and fund an income-generating development.