Unfriendly theft: Educating against affinity fraud

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  • Jeanie b. Orem, UT
    Feb. 15, 2012 3:52 p.m.

    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.

  • Esquire Springville, UT
    Feb. 14, 2012 1:55 p.m.

    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.

  • cjb Bountiful, UT
    Feb. 14, 2012 9:56 a.m.

    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

  • CougarBlue Heber City, UT
    Feb. 14, 2012 6:30 a.m.

    "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.

  • My2Cents Taylorsville, UT
    Feb. 14, 2012 3:58 a.m.

    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.