An alleged $500 million Ponzi scheme preyed on Mormons. It ended with FBI gunfire.
washingtonpost.comSubmitted by Chino_Blanco t3_10rceea in news
Submitted by Chino_Blanco t3_10rceea in news
The suspect pitched investment that was pitched as a nearly risk-free opportunity to earn annual returns of 50 percent by lending money to slip-and-fall victims awaiting checks after the settlement of their lawsuits.
Anyone with common sense will know that such return is too good to be true scenario.
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Specifically Mormons. The religion started as a long con. The true believers are guaranteed to be gullible because anybody with common sense finds it laughable and walks away.
You'd think so, but for every objection raised they have an answer that is plausible to anyone who might believe in God (and already believe what they do).
I had to already be on my way out to even be able to hear the problems. It's pretty much this way in all religions, too.
If you are thinking "I don't suffer from this", whether that's because you're religious or not, you do. Nobody is immune to errors in thinking.
We all know things that are simply wrong.
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I'm in general agreement.
I like you. Let's make a religion together
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It’s a religion to all the mouth breathing acolytes, but you’ll know. You’ll know, and profit too. The profit (prophet) part is my favorite.
Perhaps a religion for the non religious. Maybe call it Mormon't.
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Good con man has an answer for every objection as well. The similarities don’t end there.
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But not for the leadership trying to warn people: https://newsroom.churchofjesuschrist.org/official-statement/affinity-fraud
That link has EIGHT quotes from Church leaders since 1982 specifically about this. Honestly think this is more a Utah LDS thing because people are WAY too trusting out there.
Not sure how Mormons are and more or less of a con than any other organization religion practiced today.
They are all cons (perhaps with different motives) but all generally rely on obedience, dogmatic practices, faith, and other qualities that mimic the Mormons.
We just give a pass to more mainstream religions - often because people grew up in them (or still are).
We refer to Greek and Roman "mythology" but people get really pissed when you call it Christian mythology
That is a very abrahamic view on religion that thinks every religion acts like the abrahamic religions common to Europe, and ignores mormonism's creation by rewriting the history of indigenous people for financial gain and racism.
Mormonism is closer to the Hoteps saying native americans were black settlers from of a long lost black empire than it is a religion.
I was under the impression Mormonism was a continuation/update of abrahamic religion after Jesus. Similar to Islam and Muhammed, but now it's Joseph Smith and Mormon.
I think that's accurate. The book of Mormon is fan fiction of the sequels of the Torah.
Mormonism is a strain of american pseudohistory like the hoteps
They say the aztecs were a lost jewish tribe, quetzacoatl was jesus, native americans are red because they are cursed by god, and a lot of other racist attacks on history. During the time mormonism rose, it was one of many ideas trying to justify genocide.
Saying mormonism is a continuation is like saying the third reich is just a contuation of the 2nd reich ignoring all the things that made the 3rd reich unique like racial essentialism and pseudoscience ideas on race.
>by rewriting the history of indigenous people for financial gain
That describes most religions during their expansion phase
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Nah.
It's probably more so that if the scam artists can convince a few members of the congregation to go in on it, their interpersonal relationships and religious background ("They'd never give me a bad deal") will keep anyone from looking too closely at it, and of those that are skeptical, they're probably not going to say anything to the FBI or secret service because they don't want their friends or church leadership to lose all their money to an investigation or attract unwanted attention from people aware of the sudden financial windfall.
Given the reports that people were told to keep it "hush hush", I'm guessing a few knew the money wasn't legit but went along with it anyway because they were profiting off it at the time, and too much oversight might damage that income.
It wouldn't shock me if MLMs targeted any closely knit group that could give their scam a sense of legitimacy.
e.g #girlboss and the terms affiliation with MLM schemes targeting women.
Utah as the highest ponzi schemes per capita of any state. https://www.deseret.com/2019/4/29/20671965/does-utah-deserve-the-title-fraud-capital-of-the-united-states
Same tactics as Alex Jones or Nigerian princes. They know the small number of people willing to fall for their BS are out there, so they spam media to up the chanced of getting a random mark
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Yup.
Grifter: “Hey, wanna be really shitty and make some quick money off of other people’s misfortune?”
Mormon: “Okay…you have my attention, go on.”
Grifter: “Well, you know when someone gets really hurt and is going to obtain a settlement for their injuries? Often times they have huge medical bills they need to pay now. We will lend them money and charge insanely gouging interest rates to profiteer off of their misfortune while they wait for their settlement checks to arrive, which can take years.”
Mormon: “Oh, interesting, what do you charge for interest? Ten percent? That’s why I tithe to Heavenly Father for all he gives me!”
Grifter: “Oh frig no. More like fifty percent! Now…can I count on you to write us a hundred thousand dollar check so we can lend it to injured people in a very un-Christlike way?”
Mormon: “I was thinking more like a million. Can I tell my friends about this too? They would be interested.”
Grifter “Bless you Brother Levi, and make sure to tithe the church 10% of your profits”
Mormon: “I sure will. Heavenly Father would be very proud of what we are doing here.”
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The greatest case of too good to be true:
“So wait. If I just. Really really feel sorry. I can just. Live forever? No strings attached? Where do I sign!”
A fool and his money are soon parted.
Guess the folks in the magic pajamas qualify.
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