ABC News has issued a public apology four years after airing a misleading video segment about pastor Frederick K.C. Price, founder of Crenshaw Christian Center.
The story -- called "Enough!" -- aired on ABC's "20/20" and "Good Morning America" in March 2007. In the segment, reporters questioned whether ministers of several large congregations had used church contributions to support lavish lifestyles.
To prove their point, ABC News included a 10-second clip of a previous sermon by Price where he said, "I live in a 25 room mansion, I have my own $6 million yacht, I have my own private jet and I have my own helicopter and I have seven luxury automobiles."
But Price wasn't preaching about himself. He was presenting a hypothetical situation about a person consumed with wealth.
"ABC News apologizes for any harm caused to you as a result of its broadcast of a video clip that ABC News stated was of you speaking about yourself when in fact you were talking about a hypothetical person," Kerry Smith of ABC News said in a statement to Price.
"ABC News regrets that it did not conduct sufficient investigation of the clip after receiving it to establish its correct context," Smith continued. "By presenting the footage out of context, ABC News misled its audience and failed to meet its own standards, which ABC deeply regrets."
Price welcomed the admission and apology.
"We had faith that this matter was in God's hands," he responded. "And once again God has shown us that when we trust in Him and act in good conscience we are led to the truth, and to a place of abundant joy."