Televangelist Pat Robertson on Tuesday lashed out at the Planned Parenthood organization, and said that some chapters had over a billion dollars in cash on hand.

During Tuesday’s edition of The 700 Club, Robertson highlighted a former Indiana Planned Parenthood nurse who accused the organization of existing “for no other reason than to kill unborn babies.”

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“Planned Parenthood is enormously rich,” he opined. “And some of these individual chapters may have as much as a billion dollars in cash on hand. They are getting right now from the federal government — it’s in the budget — $550 million a year. Taxpayer money to go into that abortion mill.”

Robertson then returned to the long-debunked claim that Planned Parenthood founder Margaret Sanger had created organization as part of an African-American genocide plot.

“It is the most shocking thing that you can imagine,” the TV preacher said. “The wealthy people decided that rather than having a flood of poor people — especially other races — born in our cities that the best thing to do was mass abortion. And that’s what’s been going on with Planned Parenthood using United States government money.”

As for the claim that some chapters have a “billion dollars,” the most recent Planned Parenthood annual report notes that all of the affiliates and the national office combined have total assets of $1.6 billion.

Watch this video from CBN’s The 700 Club, broadcast Feb. 18, 2014.