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'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 kingdom of God!”  “You can tithe a portion of your profits!”

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.   

Related Article: Fraud and Misrepresentation Law in California

Disclaimer  

Copyright 2007
By Matthew B. Tozer
A California Lawyer
All rights reserved

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