Posted by Mark Pugsley.

There was a great article in the Las Vegas Review Journal today about the problems of affinity fraud among LDS Church Members titled “Thieves in the temple: How ‘affinity fraud’ hurts LDS church members.” Definitely worth a read. Among other things, he writes, “In Utah, fraudsters exploiting a connection to the LDS church and its close-knit families have separated an estimated $1.4 billion from victims in recent years, according to the state’s multi-jurisdictional Securities Fraud Task Force, which currently is working more than 100 cases. . . Fraudsters commonly start veiled sales meetings with prayers, sometimes spending as much as 90 percent of a pitch discussing Scripture before turning to the business at hand: separating squares from their savings by promising them, for instance, up to 10 percent monthly returns on their “risk-free” investments. In one case, a law enforcement source reports watching a rain of tears flow from one fraudster’s eyes as he described the profits investors might put to good use in their lives and their religion.”

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