The troubled Moody Bible Institute has shed three of its most senior figures after accusations of impropriety, including financial misuse, rocked the venerable evangelical institution.

An email yesterday following a special meeting of trustees announced President J Paul Nyquist and Chief Operating Officer Steve Mogck have resigned, while Provost Junias Venugopal has retired.

Randy Fairfax, chair of the board of trustees, said: 'Let there be no mistake that the Board of Trustees holds these three men in high regard for their ethical, moral, and spiritual leadership. They are godly, honorable men to whom we entrust to the Lord and offer our deep gratitude for their years of faithful service to Christ and to Moody.

'However, we are unanimous in our decision that it is time for a new season of leadership. I ask that you be in prayer for them and their families.'

The announcement followed the termination of Julie Roys, a long-time Moody Radio host who had written on her blog last week that the organisation was facing an 'unprecedented crisis' and detailed concerns about unethical behaviour at the institution.

In a statement the Moody Institute replied: 'While the blog post presents a limited perspective on the assertions raised, Moody is engaged in a comprehensive review of these matters to confirm that past events have been properly cared for and that any other matters are handled in an appropriate manner.'

Moody Bible Institute was founded by evangelist Dwight L Moody in 1886 to train students for full-time ministry in churches and parachurch organisations.