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April 11, 2024St. Joseph, Mo. | By: Jeremy Werner
ST. JOSEPH, Mo. - In St. Joseph, a 77-year-old man has admitted his involvement in an $8 million scheme that preyed on hundreds under the guise of a Christian health care sharing ministry.
James McGinnis pleaded guilty before federal District Judge Greg Kays to avoid a trial, confessing to charges including conspiracy to commit wire fraud and making false statements on a tax return.
McGinnis, along with 62-year-old Craig Anthony Reynolds, founded Medical Cost Sharing in 2014. Reynolds pleaded guilty to similar charges last year.
The scheme touted itself as a Christian health care sharing ministry, collecting millions in member contributions while paying out only a fraction in health care claims.
Federal prosecutors revealed that McGinnis and Reynolds pocketed over five million dollars from member contributions between 2015 and 2022. Sentencing for McGinnis is pending.