A UK-based church, which claims to be the fastest-growing in Europe, has been accused by the Charity Commission of "serious misconduct and mismanagement".
After an inquiry into Kingsway International Christian Centre, the commission ordered its head, Pastor Matthew Ashimolowo, to repay £200,000.
It found he had used church funds to pay for a £120,000 party, a £80,000 car and a £13,000 timeshare in Florida.
A spokeswoman for the London-based church said it was "moving forward".
'Overseas transfers'
The Charity Commission launched its investigation in March 2002 after noticing an annual return stated £76,000 had been paid to trustees.
It found that the board of trustees was comprised of Pastor Ashimolowo, his wife, two of his employees and two US-based trustees.
Most board meetings were attended by only the UK-based trustees, and who, according to the report, "lacked independence from the senior pastor".
The report also found that hundreds of thousands of pounds had been transferred overseas, with little documentary evidence to explain how the money supported the charity's objectives.
The church, in Hackney, east London, had a income of £7.3 million in 2001, boasts a regular congregation of 10,000 and aims to increase its size to 25,000 by 2010.
A KICC spokeswoman said the charity closed its inquiry at the end of March.
"Six months on, the church is moving forward and we remain committed to our vision for growth and expansion in the coming years," she said.