bsjkki Posted February 3, 2023 Posted February 3, 2023 (edited) https://www.msn.com/en-us/news/us/an-alleged-500-million-ponzi-scheme-preyed-on-mormons-it-ended-with-fbi-gunfire/ar-AA16ZvuF?ocid=entnewsntp&cvid=cbcf3e5be0f449e0b2c11e0d4b618572 At least it wasn’t the Bishop doing the scamming. Edited February 3, 2023 by bsjkki 1
bsjkki Posted February 3, 2023 Author Posted February 3, 2023 (edited) I’m just enjoying my 4% interest. 😂 I have little risk tolerance. My sister’s Bishop did the scamming. Be very careful who you trust with your money. Edited February 3, 2023 by bsjkki 1
Pyreaux Posted February 3, 2023 Posted February 3, 2023 2 hours ago, bsjkki said: I’m just enjoying my 4% interest. 😂 I have little risk tolerance. My sister’s Bishop did the scamming. Be very careful who you trust with your money. Okay, was trying to figure out how and why Mormons became targeted. Ah, he is a Mormon too, of course. Now I'm wondering if he was merely motivated by greed or if he justified it because he was a secret anti-Mormon.
Dario_M Posted February 3, 2023 Posted February 3, 2023 And this is now exactly why i don't pay tithing.
bluebell Posted February 3, 2023 Posted February 3, 2023 1 hour ago, Dario_M said: And this is now exactly why i don't pay tithing. What does this have to do with tithing? 3
bsjkki Posted February 3, 2023 Author Posted February 3, 2023 1 hour ago, Dario_M said: And this is now exactly why i don't pay tithing. This doesn’t seem to have anything to do with tithing, 2
The Nehor Posted February 3, 2023 Posted February 3, 2023 12 hours ago, Pyreaux said: Okay, was trying to figure out how and why Mormons became targeted. Ah, he is a Mormon too, of course. Now I'm wondering if he was merely motivated by greed or if he justified it because he was a secret anti-Mormon. It is very unlikely he was secretly anti. Most Ponzi scheme ‘masterminds’ know they are being dishonest but think they can keep the good times coming by finding new investors and can thus sometimes mollify their conscience with the belief that they aren’t cheating anyone. If it works (and ponzi schemers are arrogant enough to believe it will) they will even get the promised return so when they lie it is really not hurting the investor. There is usually a lot of self-deception involved. 1
Thinking Posted February 3, 2023 Posted February 3, 2023 If somebody promises you a 50% return in a year, you might as well go to Vegas and put your money on one of the green slots on the roulette wheel. Your chances are better. 1
Thinking Posted February 3, 2023 Posted February 3, 2023 My sister and her ex-husband were the victims of a ponzi scheme. The original business owner did not intend for it to be such, but when money got tight he looked for more investors to keep the business going. It snowballed and pretty soon it went south. I believe the owner thought the business would pick up, but it never did. The original owner lost a lot of money too, which made him feel like he wasn't doing anything wrong. What he did wrong was lie to the investors about how their money was being used. He told them that their money was being used to purchase capital, but it was instead used for payroll. Be careful people. 1
Tacenda Posted February 4, 2023 Posted February 4, 2023 23 hours ago, The Nehor said: It is very unlikely he was secretly anti. Most Ponzi scheme ‘masterminds’ know they are being dishonest but think they can keep the good times coming by finding new investors and can thus sometimes mollify their conscience with the belief that they aren’t cheating anyone. If it works (and ponzi schemers are arrogant enough to believe it will) they will even get the promised return so when they lie it is really not hurting the investor. There is usually a lot of self-deception involved. And some members feel like if they look like they're doing good money wise then they're living right perhaps. But this is just infuriating to me. My dad was bilked out of water rights by his friend/business partner (they owned condos together too) to land he'd purchased. And this friend's family and ours would always go on family outings etc. The guy was dishonest, yet served a few LDS missions, and was able to still remain an active TR holding member. Same thing happened with my father-in-law's friend and business partner who ripped him off. And all of my in-law's, the children, are pretty mad about it because he too is a faithful card carrying member. They just say that he'll get his judgement when it comes. So it happens to faithful believing members, not always antis disguised as faithful believing members.
ttribe Posted February 7, 2023 Posted February 7, 2023 I wrote a short article on this topic (affinity fraud) a little over ten years ago: http://digitaleditions.walsworthprintgroup.com/publication/?i=115428&p=13 3
Calm Posted February 8, 2023 Posted February 8, 2023 2 hours ago, ttribe said: I wrote a short article on this topic (affinity fraud) a little over ten years ago: http://digitaleditions.walsworthprintgroup.com/publication/?i=115428&p=13 Love seeing the photo and having a face to go with the words now. 1
ttribe Posted February 8, 2023 Posted February 8, 2023 2 minutes ago, Calm said: Love seeing the photo and having a face to go with the words now. That was 10 years ago, so....
Calm Posted February 8, 2023 Posted February 8, 2023 (edited) Dang…any significant change besides hair length? Trying to imagine that face with a goatee and ponytail. 😛 Edited February 8, 2023 by Calm 1
ttribe Posted February 8, 2023 Posted February 8, 2023 4 hours ago, Calm said: Dang…any significant change besides hair length? Trying to imagine that face with a goatee and ponytail. 😛 www.ingenfinancialforensics.com 1
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