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Leaders warn LDS against money scams

What Moron is still falling for these scams?

Kudos to the first presidency though, for making this statement.

Why are we so vulnerable to fraud? It's a well known fact that many Utahns live beyond their means. Both parents work so they can lavish their children with all the luxuries...now called necessities...of life. Most teens today drive their own cars and have their own cell phones,all paid for by mom and dad. Pres. Monson has made the statement that most of us have "a year's supply of debt" instead of a year's supply of food and other necessities. We've lost our common sense and judgment.

The article quotes Charlene Barlow of the Utah Attorney General's office as saying, "I have victims that sit here and they say, 'I can't believe I was so stupid. But you know, he was a church member. He was in my ward. He was my bishop.' So they check their skepticism at the door."

Anyone who says this is stupid and I feel no level of sympathy for them. I'm as likely as the next person to be the victim of fraud but it won't be because I put aside my common sense and thought that a Church member, Ward member or Bishop couldn't commit fraud when there are members who commit rape, murder, robbery and all sort of crimes include fraud and child molestation.

Even Apostles have been excommunicated from the Church for committing egregious sins. Far to many people see those in the Church differently than they would see someone else and its wrong. This is why Utah's fraud rate is higher than a lot of other places and this has a correlation to idiots in the Church committing fraud and being dumb enough to allow another mother to defraud them. Shame on all of you morons.

Hate to say it but lots of people are falling for them. I also hate to say a lot of these multi-level marketing schemes masquerading as real businesses. I am not saying all MLM are bad, just that the model is used by many in a bad way. It's not secret that Utah is the capital of MLM and for the most part the claims of the products is pure hogwash, some of it is probably real hogwash.

Many people who are victimized, made their choice to invest not on the basis of an unrealistic return but because they trusted their church friend, church leader, family member, and went along with whatever that person said.
I am LDS and was in a ward where one very outgoing and seemingly successful man persuaded enough people to invest in his company to gather $75 million dollars for himself. Eventually he was caught but not before destroying the trust of many others. Invest because it's a good investment not because you know that the person is an active member of his church and couldn't possibly be a crook. There are crooks in every church, every neighborhood and they prey on those they know and those who trust them. If your a crook where do you go to find suckers? Right at home

You'd be surprised how deceiving they can be. After experiencing being the victim of identity theft, I've opened my eyes to these warning signs. NEVER, no matter what, give out personal information. That's the first step in stealing information/money out of your pockets. Do your homework how you can prevent being the victim to their schemes. You'll be glad you did because it affected nearly every one of us!

I wonder if there's a correlation between those who believe what they hear on talk radio and those who get scammed.
In any case, far too much gullibility going on. Too much trust and not enough thinking.

I think the bottom line is greed.

We know gambling is wrong because it's trying to get something for nothing. But we just don't get that the latest great scheme is akin to gambling. We are still trying to get something for close to nothing. I just don't understand why people think they can trust other members with their money. I have seen this happen soooo many times over the years and not just in the United States. I have lived by the mantra to NEVER get into business with family or members of the church. Nothing but trouble and bitterness awaits you. It has served me well while I have seen some good friends and family burned.

Trading on religion is a very common scam and it amazes me that so many fall for it (I remember seeing "Christian" used car dealers when I lived in SC). It seemed to be especially rampant when I lived in FL. All it took was a slick talking huckster to join one of the local mega churches and it was off to the races. First of all, anyone who would use their faith to promote their business in any way should be very ashamed. Run the other way, this is a powerful sign that something is wrong -- regardless of the level of their church service/calling. I applaud the first presidency for making this statement, but I have always wondered why they have never warned about the snake oil/pyramid schemes that flow out of Utah Valley and target the world's poor. Few scams are so cruel and do so much damage.

Despite the fact that my wife and I are debt free and very careful with our money, (we pay for everything with either a debit card or cash) I can see how easy it is for individuals, couples and families to get into debt without trying too hard. It seems here in the UK and from what I have read concerning the US economy, prices and bills e.g petrol (gas) utility bills, grocery costs, rates, childcare fees, mortgage or rental payments etc etc are continuing to increase at an alarming rate but wages are not keeping up with inflation. The counsel from the First Presidency to avoid fraudulent scams and keep out of debt is wise but concerning the subject of debt, they also need to understand that many people are trying to live within their means and avoid debt but find it soooo difficult to afford just the basics in life i.e. food and gas, and many of these people work hard and pay their taxes.

Great article,and all the good sense elements a person of any or no faith needs to protect themselves from fraud are there except,perhaps,one:
The thing that ultimately makes us vulnerable is
GREED. Miraculous returns appeal to that element of human nature,but common sense should tell us it likely isn't so. The green eyed monster,GREED rears its head,and rationality goes by the wayside.
You're primed to be a victim.
It's simple enough to state,but besides keeeping your skepticism about these 'special deals,just for us',your best insurance is to live within your means so you don't find yourself needy of these great opportunities. If your back isn't already up against the wall,you're not so likely to move forward with something you know in your heart doesn't make sense. Take it from one who knows.

One of the most blatant weakness of Mormons (especially Mormons in high mormon density areas) is that they believe that financial prosperity, even wealth, is necessary to both keep up with their fellow worshipers and to show that they too are "blessed". Thus they fall for get rich quick scams, pyramid schemes, and the likes. We have lost our financial modesty as a people. We think that the world drives 40,000 dollar cars so must we. We don't achieve wealth through hard work and long term education and investment any more. In a way we have betrayed many of those traits so perfectly exemplified by our forbearers. What happened to fix it up, make it do or do without? We should be known as the frugal, hardworking savers not the bottomless materialistic appetite crew! Our homes are too big, our cars are too expensive, and we work less and save even less than that....pride goeth before the fall!

"It is a well known fact that many Utahns live beyond their means" Wow, I guess growing up my Dad should have known that fact. My senior year of high school I asked him for help with getting a car and he just laughed and told me to get a job.

Money scams are prevelant here in the state because those involved have such easy connections. They have their ward directory in one hand and their stake directory in the other. That is like 300 potentional clients or more. Whenever anyone in my ward approaches me with something relating to a new type of investment or new business I listenly kindley but tell them to beat it. Hopefully this statement by the 1st presidency will teach members of the church to not be so foolish in their decisions.

I believe that many church members get others into their investments that are often very risky without disclosing that risk. I always live by the rule that the closer the person is to me, the more overboard I go in disclosing every conceivable flaw or risk (way beyond law to disclose). I never want to have someone close in my ward or my family think I duped them.

If you are involved in the "seminar" industry, call centers, most MLM, companies who use your credit, then you more than likely are in this group or work for one that preys on stupidity. If the success of your product or service is around 1 per 1,000 and requires people to front anything for "coaching" or "training" on how to be successful, then you need to check yourself and quit your job.
Don't be a part of it.

IF ANY PERSON BRINGS UP THEIR CHURCH POSITION IN ANY INVESTMENT DISCUSSION, OR BRINGS UP THAT SOME OTHER PROMINENT CHURCH MEMBER HAS JOINED THEIR INVESTMENT------RUN, DO NOT WALK AWAY!

Here is one of the latest SCAMS!

Investors fraudulently inflate your bank account temporarily to allow you to qualify for a 2-4 Million dollar insurance policy. They then attempt to sell that to a hedge fund and give you 100K.

That is FRAUD People! Also, having some hedge fund preferring that you are dead isn't comforting either.

For some reason, too many Utahns have a blatant disregard for the law. It frustrates the heck out of me! Here we believe in being Honest in all our dealings, but we tolerate dishonesty as if it is not dishonesty!

1. Do you finish your basement without permits. if you do you are dishonest.

2. Do you allow your children to skate by on drivers license tests without driving the whole 40 hours?

3. Do you allow your children to drive after their license with other teens

4. Do you knowingly violate zoning laws.

5. Do you blatantly speed

6. Do you stretch the truth on credit applications (Utah has been in the top 5 fraud states for as long as they have kept records)


Stop being Dishonest!

Perhaps we are going too far, but my wife and I make it a practice to not do business with ward or stake members. We have found that, over the years, when we do business with people we know in the church, more often than not they tend to take our business for granted. Also, when we are not happy with their work or services, we don't have to see them in church the next Sunday. We prefer to just do business on the basis of reputation without knowing the religious affiliation of those who we give business to. As I said, that may be going too far, but we are happier this way.

Using your membership of the church to get gain is akin to the priestcrafts in the Book of Mormon.