Esquire is correct. If anyone brings any church connections, spiritual
promptings, personal relationships, etc., into a conversation where you may be
investing money - run, run, run! My dad has been taken advantage of
so many times I have lost count. He is trusting to a fault and has lost hundreds
of thousands of dollars over the years. My hubby and I have a few
rules to avoid any troubles.First, stay out of debt and live within
our means so we do not have a desperation about money.Second, never
go in on a business deal with anyone we have a personal relationship with -
friend or family (It just messes things up more often than not.)Third, if something is too good to be true then it is too good to be true and
we steer clear - no matter how many of our friends participate and speak with
shining eyes.Fourth, we never loan family money. If they need help
we give what we can with no strings attached.
From my own observations over the years, this is a huge issue for LDS people who
tend to trust other LDS folks, and they should be able to trust one another.
But take this as a warning: If anyone uses the Church, or a leader in the
Church, in any way, even mentioning that they know so-and-so leader, or even
mentions a temple recommend, in the context of their discussions with you about
investing or otherwise getting involved in a venture, turn and run. Say no.
The chances of being taken advantage of are very high. There will always be
other investment opportunities, and legitimate ones at that.
My advice, don't put yourself out any farther on a limb for relatives or
'trusted' others that you want to fall down.My cousin borrowed $1500
from me promising me $2000 back. I told him I didn't want the extra just my
$500, to just pay me back my $1500. It never occurred to me he would scam me,
but when the time came to pay me back, I couldn't get a hold of him on the
phone. So I called his brother and father and asked how to get a hold of him.Needless to say he was livid that I called his family and told them
about this loan. I then said, If you don't want me talking to your family, on
how to get a hold of you and about our business, then you need to talk to me,
don't make yourself so hard to get a hold of.He changed his phone
number, I can't talk to him now. His father told he he does this all the time.
Borrows money and promises to pay it back but he never does. He said I should
have talked to him before I loaned the money. .. I just never thought he would
be that dishonest. His wife knows he does this too, too, but she sat idily by as
he was scamming me.Brused but wiser
"He told me that he was guided by the spirit and said he was the financial
rescuer of people." There is the dead giveaway statement. I am LDS but am
leary of people who come across like that.
Attendance to one of these colege fraud seminars should be required attendance
for all BBB sponsors and anyone buying a business license and any employee
dealing with the public or financial end of any business.