BOULDER, Colo. -- The City on the Hill in Boulder has been a non-denominational presence on the area's eastside since 1979.

Now its founder wants residents to know the church had no direct involvement in a Ponzi scheme now under investigation.

"Unfair that we were implicated in it," Senior Pastor Steve Shank said.

Two of three suspects though had been members of the church.

All three of the victims mentioned in the arrest affidavit obtained by TheDenverChannel said they were aware that two of these supposedly savvy investment pros had also been members of the church.

Loren Ankarlo, 52, had even served as an associate pastor, but then he left, Shank said in 1990.

"People here now would not even recognize him," Shank said.

Douglas Wertzbaugher, 52, had been a missionary in Guatemala for the church for 15 years, Shank said, and had remained as a member until 18 months ago.

"Heart breaking," is how Shank described his own feelings when he was told by investigators with the Boulder County District Attorney's Office that the three may've tried to pass themselves off as God fearing, trusting men who allegedly wanted to prey, not pray.

"These three men were not running a Ponzi scheme within our church. I want to make that very, very clear. The scripture that comes to me is Proverbs 22:1. It says 'A good name is more to be desired than great wealth and to be respected is better than silver and gold.' So, that's a word for the wise for all of us," Shank said.

The third suspect, 49-year-old Kevin Lauritsen, was extradited to Colorado from Texas and appeared in court Wednesday.

Shank said his 325 members are dealing with the news, supporting each other and cautioning others to be aware, as he did in a message delivered in March of last year.

"And actually did talk about how some of the Ponzi schemers, security fraud people are preying on churches, not just all across America but all over the world," Shank said, noting his own journey of faith included two encounters with similar Ponzi schemes connected to churches in other countries, India and Ukraine.