Sign On San Diego is reporting on an alleged Ponzi scheme that targeted churchgoing members of the Latino community in Los Angeles, San Diego, and Orange County. The first sentence of this weekend’s story sums up the devastation wrought by this alleged scam. “Teresa Gonzalez doesn’t go to church anymore, embarrassed for herself and livid with the man who talked her and her husband into investing $82,500 in what federal authorities say is a Ponzi scheme.”
Before he was King of Israel, David was a shepherd. He protected his flock from bears and wolves. Every pastor needs to remember that bears and wolves are always on the prowl. Unfortunately, some pastors invite them into the flock. The results are always predictable and bloody.
Pastors, WAKE UP!!! Fraud against people of faith is rampant. Among those who defraud others for a living, Christians are easy prey. They are the low-hanging fruit of the fraud business, the well you can tap when you aren’t in the mood for a challenge.
It was Sunday morning in a small non-denominational Christian church in the Lakes Region of New Hampshire. The pastor was in the middle of his sermon when a woman stood up and demanded to know what had become of the money she invested with the pastor’s son, Scott Farah. Farah was the president and CEO [...]
The U.S. Commodity Futures Trading Commission (CFTC) charged Eldon A. Gresham, and The Gresham Company, with operating a multi-million dollar Ponzi scheme targeting Christians.
Daryl Batts, a former youth pastor, was sentenced to 10 years in federal prison, according to Greenvilleonline.com. Staff writer, Eric Connor, did a great job outlining Batts’ pyramid scheme that defrauded investors of $12 million over the past few years.
Harvy Lipman, a staff writer for NorthJersey.com, wrote a fantastic article about an investment scheme that preyed on church members. David A. Talbot is best known for being Michael Vick’s financial advisor before being removed by a Virginia bankruptcy court for misappropriating Vick’s assets. But now, according to the state attorney general, Talbot is at [...]
Jesus sent his disciples out telling them to be as “shrewd as snakes and as innocent as doves.” Matthew 10:16. When confronted with a salesman who calls himself a believer, though, Christians often forget the front half of that equation. Christians are prime targets for scam artist because a salesman who can establish himself as a fellow believer is assumed to share [...]
Another Reason to Avoid Any Investment You Hear About at Church
The leaders of churches, whether clergy or lay leaders, are usually successful, smart, and genuinely devoted to the mission of the community of faith. Unfortunately, they often make the mistake of believing that their business acumen qualifies them to discern whether a proposed investment is legitimate. It does not.