Texas Stockbroker Priest Accused of Fraud

A Dallas Episcopal priest who also works as a stockbroker has been suspended from church duties amid accusations of defrauding former financial clients.

Dallas Episcopal Bishop James Stanton suspended the Rev. William Warnky, citing financial regulators' ruling that the man defrauded an ex-parishioner of $50,000 while serving as his stockbroker.

The accuser says Warnky made unauthorized trades that costed him $100,000 between 2004 and 2007, the Dallas Morning News reports. Warnky worked at First Cantebury Securities, a firm that is run by another Episcopal priest.

Warnky last served at his church, Good Samaritan Episcopal, on Sunday. He has denied the charges.

The Dallas Morning News says Diocesan officials notified the priest Friday of his suspension, but it didn't take effect until Monday.

Warnky did not immediately return a call for comment Thursday to The Associated Press.

Members of the Financial Industry Regulatory Authority suspended Warnky's broker registration earlier this month.