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to Christian Legal Chronicles 'WOLF
IN SHEEP'S
CLOTHING" This article warns church
members to beware of
"can't lose" and "guaranteed" above market rate investment
opportunities offered by church members or church leaders. Many, many Christians fall
victim to scammers within the church. The scammers convince a few
influential
members of the church that they have an investment proposal that
“can’t lose”
and is “guaranteed” to produce “above
market returns.” These con artists
(who are often in church leadership positions), convince a few
influential
members of the church to invest. These influential members
become the
catalyst that spreads like wildfire “the good news”
of this wondrous
investment! Then this snake charmer, using a Ponzi scheme, actually
starts
paying tremendous dividends to the first few investors.
“Hallelujah!”
This creates even a greater frenzy causing more church members to fork
out
money into this “incredible” investment.
However, like all pyramid schemes,
this “too good to be true” investment is, in fact,
“too good to be true.”
The well runs dry. And the church members lose
thousands if not
millions of dollars in total. The scammer, who portrays
himself as a trustworthy, “Praise the Lord”
Christian, knows how to manipulate and motivate unwitting believers.
“It’s for
the In summary, if the deal sounds
too good to be true or promises to pay above
market rates, that must raise a “red flag” in your
mind! Warning lights
must go off in your head. Avoid the investment in its
entirety. But
if common sense does not stop you, then, by all means, proceed slowly,
and with
extreme caution, and perform your “due diligence”
(careful and thorough investigation,
research, and analysis before investing). Don’t
jump in! These “can’t
lose” proposals, can and normally do lose, big time! The moral of this story is that
just because you’re dealing in business with
Christians, doesn’t mean you can lower your guard! The Bible
warns that Satan
comes as an angel of light. I urge you to use extreme caution with any
investment that promises above market returns, even if the beloved
Pastor of
the church is investing into it! If you've already
been defrauded,
immediately seek legal counsel. Copyright 2007 |