On July 28, 2016 former SouthLake Christian Academy headmaster, Wayne Parker, pleaded guilty to stealing 9 million dollars from the school. Mr. Parker was sentenced to 5 years in prison on November 30 of the same year. The following December, former pastor of the associated church and founder of the school, Wade Malloy, pleaded guilty to wire fraud for helping Parker steal the money. Malloy was sentenced and has served time. Since 2015 SouthLake Christian Academy has successfully undergone 4 audits conducted by an outside accounting firm. SouthLake Christian Academy is certified by the Evangelical Council for Financial Accountability (ECFA).