Ep. 438: Archegos Capital Management, He Gets Us at the Super Bowl, T.D. Jakes
On today’s program, two former leaders from Archegos Capital Management have dropped their financial claims against disgraced Christian philanthropist Bill Hwang. Why did they drop out, and what does that mean for the other staff members hoping to collect $32 million? We’ll have details.
And, the controversial ‘He Gets Us’ ads showcased its message again at Sunday’s Super Bowl game. After critics last year labeled the ads too political, this year’s version was decidedly less so. We’ll take a look.
Plus, Mission Aviation Fellowship co-founder Jack Hemmings dies at 103…in 2024, he became the oldest pilot to fly a spitfire.
But first, a second minister is accusing megachurch pastor and author T.D. Jakes of sexual abuse.
The producer for today’s program is Jeff McIntosh. We get database and other technical support from Stephen DuBarry, Rod Pitzer, and Casey Sudduth. Writers who contributed to today’s program include Adelle Banks, Tony Mator, Kathryn Post, Marissa Greene, Mark A. Kellner, Kim Roberts, Zach Rivas, Aaron Earls, Brittany Smith—and you, Warren.
A special thanks to Lifeway Research for contributing material for this week’s podcast.
Until next time, may God bless you.
MANUSCRIPT:
FIRST SEGMENT
Warren:
Hello everybody. I’m Warren Smith, coming to you today from Newport Beach, California.
Natasha:
And I’m Natasha Cowden, coming to you from Denver, Colorado, and we’d like to welcome you to the MinistryWatch podcast.
Warren:
On today’s program, two former leaders from Archegos Capital Management have dropped their financial claims against disgraced Christian philanthropist Bill Hwang. Why did they drop out, and what does that mean for the other staff members hoping to collect $32 million? We’ll have details.
And, the controversial ‘He Gets Us’ ads showcased its message again at Sunday’s Super Bowl game. After critics last year labeled the ads too political, this year’s version was decidedly less so. We’ll take a look.
Plus, Mission Aviation Fellowship co-founder Jack Hemmings dies at 103…in 2024, he became the oldest pilot to fly a spitfire.
Natasha:
But first, a second minister is accusing megachurch pastor and author T-D Jakes of sexual abuse.
Warren:
The Rev. Richard Edwin Youngblood, the brother of a minister who has accused Bishop T.D. Jakes of sexual misconduct, has made his own accusation against Jakes, claiming the Texas megachurch leader climbed into bed with him on a church business trip.
The claims were made in a legal filing responding to a defamation lawsuit Jakes brought in November against Youngblood’s younger brother, Duane Youngblood, a Pennsylvania man who made allegations against Jakes in two 2024 interviews.
Natasha:
What was that lawsuit about?
Warren:
Jakes’ suit, filed in the U.S. District Court for the Western District of Pennsylvania, includes denials by Jakes that Jakes tried to groom and sexually abuse him. The suit also said the younger Youngblood is a parolee after convictions for sexual assault and corruption of minors.
Duane Youngblood has sought a court’s dismissal of Jakes’ suit.
Richard Youngblood was among six people who signed sworn affidavits included in the January filing that testified that they had heard Duane Youngblood describe the alleged misconduct by Jakes.
Natasha:
Next, a case has been dropped against Bill Hwang.
The hard task of discerning victims from victimizers continues in a fraud case that shook two typically unrelated worlds—Wall Street and Christian ministry.
Warren:
In late January, two former Archegos Capital Management leaders withdrew their bids against company founder Bill Hwang. They were among about 20 staff members seeking to collect $32 million of a more than $9 billion judgment against Hwang.
Natasha:
Bloomberg reports that Archegos’ former co-CEO Andy Mills and trader Daiki Taniguchi dropped out after government prosecutors characterized them and a third claimant, analyst David Park, as participants in, rather than victims of, fraud.
Warren:
Last year, MinistryWatch covered Bill Hwang’s conviction of wire fraud, securities fraud, racketeering and market manipulation that led to massive Wall Street losses. About $100 billion vanished in a week in a stock market fraud. Banks that had given loans to Archegos lost $10 billion, while Archegos itself lost $36 billion.
Natasha:
In November, Manhattan U.S. District Judge Alvin Hellerstein sentenced Hwang to 18 years in prison, plus 3 years of supervised release.
Warren:
The judge declined the defense’s pleas for leniency on account of Hwang’s alleged Christian character and the good work he had done through his charity, the Grace & Mercy Foundation. His charity had supported numerous Christian ministries, such as Prison Fellowship, the Salvation Army and Fuller Theological Seminary, where Hwang served on the board of trustees.
Neither Mills, Taniguchi nor Park were charged with crimes. However, in a Jan. 21 court filing obtained by Bloomberg, prosecutors said, “In the days leading up to Archegos’s collapse, Mills joined numerous other employees in misleading Archegos’s counterparties about its financial condition.”
Mills’ attorney Paul Fishman disputed that characterization, calling it “inflammatory and misleading,” and insisted Mills had chosen to drop his claim “in light of the limited funds available for other ACM employees seeking restitution.”
Natasha:
Wheaton College is in the news:
Warren:
On Friday (Feb. 7), Wheaton College, the evangelical Christian school outside Chicago, publicly congratulated Russell Vought, a conservative activist and architect of Project 2025 who attended the school, for his confirmation by the U.S. Senate as director of the White House Office of Management and Budget.
Within hours, hundreds of Vought’s fellow alumni had complained that Vought’s agenda contradicted the values they had been taught at Wheaton.
By Saturday morning, the college had deleted the post, and a new social media barrage, this time from Vought’s supporters, had begun.
Natasha:
The college has defended its original post, and its subsequent pivot, as “deliberately non-partisan,” as its institutional commitments specify.
Warren:
The now-deleted social media post on Friday said, “Wheaton College congratulates and prays for 1998 graduate Russell Vought regarding his senatorial confirmation to serve as the White House Director of the Office of Management and Budget!”
Natasha:
The comment and deletion caused a stir.
Warren:
In an email to RNS, Wheaton College spokesperson Joseph Moore said, “The social media post led to more than 1,000 hostile comments, primarily incendiary, unchristian comments about Mr. Vought, in just a few hours,” wrote Moore. “It was not our intention to embroil the College or Mr. Vought in a political discussion or dispute. Thus, we removed the post, rather than allow it to become an ongoing online distraction.”
Wheaton alumnus Eric Teetsel, chief executive officer of the Center for Renewing America, a conservative think tank founded by Vought in 2021 and credited for advising on Project 2025, called the decision an “act of cowardice.”
Natasha:
Warren, let’s take a quick break. When we return, ‘He Gets Us’ ads return to Super Bowl 59.
I’m Natasha Cowden, along with my co-host Warren Smith, and we’ll have that story and much more, after this short break.
BREAK
SECOND SEGMENT
Natasha:
Welcome back. I’m Natasha Cowden, along with my co-host Warren Smith, and you’re listening to the MinistryWatch podcast.
Next, the story we promised before the break.
Warren:
Fans of the Kansas City Chiefs, Philadelphia Eagles, game day food and creative advertising — as well as those just in it for Kendrick Lamar’s halftime show — were all invited to think of Christ once again during the 2025 Super Bowl.
The “He Gets Us” ad campaign aired a new commercial during the first half of the Super Bowl on Sunday (Feb. 9), marking the project’s third consecutive year of having a presence in the big game, with the hopes of spurring dialogue and curiosity about Jesus.
The commercials, created by Dallas-based advertising agency Lerma, include a slideshow of photos, ending with the text “He Gets Us. All of Us.”
Natasha:
Tell us about this year’s ad.
Warren:
According to a press release from Come Near, the nonprofit startup that acquired the He Gets Us project in 2024. This ad, Titled “What is Greatness?”, invited the audience to explore “what Jesus showed and said greatness is and the contrast to how culture defines greatness today,”
Ken Calwell, CEO at Come Near said, “In a society struggling with division, loneliness, and a crisis of meaning, Jesus’ life and teachings offer a countercultural path toward healing,”
Natasha:
On Sunday the “He Gets Us” website turned into a hub of content, highlighting “stories of greatness” and offering self-paced resources to “rediscover or learn more about the person and teachings of Jesus.”
Warren:
The “He Gets Us” project was originally overseen by the Servant Foundation, a Christian foundation that launched the project in 2022, with an initial effort of raising $100 million. But by 2023 — when those first Super Bowl ads premiered — the branding firm Haven had taken over the project, and its president told RNS at the time that “the goal is to invest about a billion dollars over the next three years.”
Natasha:
Next, tariffs and their implication on the cost of Bibles.
Warren:
Bible buyers in the U.S. will likely be paying more for copies of Scripture.
Any Bibles printed and bound in the People’s Republic of China (PRC) will face a 10% tariff imposed by President Donald Trump.
A White House official, who spoke on background, told MinistryWatch the February 1 tariffs are designed to make the PRC blunt the flow of fentanyl and the opioid’s components to the U.S., often by way of Mexico. The official said there are no exemptions for Bibles, as was granted in
2019 when a 25% tariff was imposed on China in Trump’s first term.
Ironically, the tariff comes as Americans are buying more Bibles. The Wall Street Journal reported a 22% spike in Scripture sales for the first 10 months of 2024, versus the same period in 2023.
Natasha:
How will this tariff impact Christians?
Warren:
Jeff Crosby, president of the Evangelical Christian Publishers Association, told MinistryWatch via email that without exemption, “consumers and religious organizations will face higher prices, and churches, schools, ministries and non-profit organizations will have fewer resources to educate others and connect them to God’s word, the Bible.”
Natasha:
Warren, What’s our next story?
Warren:
Currently, 15 states are considering legislation that would extend or eliminate the statute of limitations for child sexual abuse crimes and civil lawsuits.
The reform movement to change the statute of limitations for those experiencing this childhood trauma has been growing.
According to CHILDUSA, 44 states have no criminal statute of limitations for some or all child sexual abuse, 22 states have no civil statute of limitations for some or all child sexual abuse, and 30 states have revival or “look back” window laws that allow for claims that would otherwise be expired under a statute of limitations.
Natasha:
“Look back” or revival windows can be important because sexual abuse survivors often delay reporting the conduct for years due to trauma. In the case of child sex abuse, the average age at the time of reporting is about 52 years, — most survivors probably never disclose the abuse they suffer.
Warren:
State lawmakers across the country have proposed further reforms.
For instance, in Missouri, where the sexual abuse by a staff member at Kanakuk Kamps took place, several pieces of legislation have been introduced affecting the statutes of limitations related to child sexual abuse.
Natasha:
What are they proposing?
Warren:
A constitutional amendment in Missouri would establish a permanent revival window for civil child sexual abuse claims. A second bill would also establish a permanent revival window and eliminate the statute of limitations for civil lawsuits stemming from child sexual abuse.
Three other bills introduced by Missouri legislators would extend the statute of limitations related to child sexual abuse to age 41 or 3 years after discovery, whichever is later.
Natasha:
Texas is also moving toward reform.
Warren:
In Texas, lawmakers have introduced three reform bills related to child sexual abuse.
A proposed constitutional amendment in Texas would allow a person to bring a civil personal injury suit for conduct that violates the penal law, such as sexual assault of a child, trafficking of a child, or indecency with a child.
Other states with legislation establishing or extending revival windows include Arkansas, Indiana, Massachusetts, New Mexico, New York, Oregon, and South Carolina.
Natasha:
Warren, we’re going to take another break. When we return, our lightning round of ministry news of the week.
I’m Natasha Cowden, with my co-host Warren Smith. More in a moment.
BREAK
THIRD SEGMENT
Natasha:
Welcome back. I’m Natasha Cowden, with my co-host Warren Smith and you’re listening to the MinistryWatch Podcast.
Warren, we like to use this last segment as a sort of lightning round of shorter news briefs.
What’s up first?
Warren:
Jack Hemmings, a decorated World War II veteran pilot and co-founder of Mission Aviation Fellowship (MAF), died “peacefully in his sleep” on January 24 at 103, according to MAF’s website.
Hemmings’ life in the sky began at just 19 years old when he joined the United Kingdom’s Royal Air Force in 1941. During the height of World War II, a young Hemmings was stationed in British India as squadron leader of 353 Squadron. In 1946, Hemmings was awarded the Air Force Cross for his “exemplary gallantry while flying” during the war. And just last year, in February 2024, Hemmings became the oldest British person to take control of a Spitfire at the age of 102.
After the war, Hemmings and fellow veteran pilot Stuart King co-founded Mission Aviation Fellowship to reach remote communities around the world with “medical supplies, Bibles, building materials, and emergency food in times of crisis.
Natasha:
What’s next?
Warren:
Many U.S. evangelicals may view early immigration and refugee maneuvers by President Donald Trump’s administration as a mixed bag.
Evangelicals want both secure borders and laws that provide avenues for certain illegal immigrants to obtain legal status, according to a Lifeway Research study. They want to deport dangerous illegal immigrants but aren’t as concerned about those who arrived as children and have lived peacefully in the U.S. Additionally, evangelicals recognize personal and national responsibilities to care for refugees and others fleeing their nation of origin.
The 2025 study was sponsored by the Evangelical Immigration Table, World Relief, the National Latino Evangelical Coalition and the National Association of Evangelicals and was conducted by Lifeway Research.
Natasha:
What were some of the findings?
Warren:
Most evangelicals voice support for refugees. Seven in 10 (70%) say the U.S. has a moral responsibility to accept refugees, Around a quarter (23%) disagree. That number is statistically unchanged from a January 2024 Lifeway Research study.
Most want deportations to focus on individuals who have been convicted of violent crimes (67%) or those reasonably suspected of presenting a threat to national security (63%).
Natasha:
Overall, evangelicals in the U.S. see legal immigration as helpful to the country.
Many evangelicals say the number of recent immigrants presents an opportunity to introduce them to Jesus Christ.
Natasha:
Next, the latest from the MinistryWatch Index.
Warren:
The MinistryWatch Index was unchanged during the month of January, at 152.
The MinistryWatch Index is based on the revenue of 38 large Christian ministries, ministries that represent all of the 21 ministry segments tracked by MinistryWatch.
This month’s sideways move means that the MinistryWatch Index has been essentially unchanged after a significant drop in October.
The no growth and slow growth of the MinistryWatch Index over the past four months could suggest concern about the future of the economy.
Natasha:
Who did we feature in our Ministry Spotlight?
Warren:
Voice of the Martyrs (VOM), headquartered in Bartlesville, Okla., recently saw a significant drop in a number of its MinistryWatch ratings.
Its overall Donor Confidence Score (DCS) is now a 53, “Exercise Caution.” This is in large part because the organization no longer files a Form 990 with the IRS, which deducts 20 points from its DCS. In the MinistryWatch database, organizations that do not file a Form 990 are also not eligible to receive any stars rating financial efficiency, which deducts another 20 points.
VOM has posted audited financial reports from 2021 to 2023 on its website, all of which include executive salaries and the names of board members. The ministry is also a member of the ECFA.
According to VOM’s audited financial statements, in 2021, the organization’s revenue was $94.5 million. In 2023, it dropped to $89.8 million. The organization also has a total of $89.4 million in net assets.
Natasha:
Warren, any final thoughts before we go?
Warren:
The Crisis of Dependency is our donor premium for February.
Natasha:
The producer for today’s program is Jeff McIntosh. We get database and other technical support from Stephen DuBarry, Rod Pitzer, and Casey Sudduth. Writers who contributed to today’s program include Adelle Banks, Tony Mator, Kathryn Post, Marissa Greene, Mark A. Kellner, Kim Roberts, Zach Rivas, Aaron Earls, Brittany Smith—and you, Warren.
A special thanks to Lifeway Research for contributing material for this week’s podcast.
I’m Natasha Cowden, coming to you from Denver, Colorado.
Warren:
And I’m Warren Smith, in Charlotte, North Carolina.
Natasha:
You’ve been listening to the MinistryWatch podcast. Until next time, may God bless you
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