Elder Michael Ferrell is accused of embezzlement from the Living God Center on the corner of Garner Road and Saints Avenue in Raleigh. Police say Farrow stole the money and then closed the church in July.
Police say Farrow even traded the church van for a personal car.
"You hate to hear it. You hate it for the people who donated money to the church," says Capt. D.S. Overman of the Raleigh Police Department.
Ferrell later became pastor at True Holiness Church in Goldsboro. Police say there is no evidence of any financial impropriety at that church.