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Showing posts with the label Affinity Fraud

Mormons, Evangelicals And Affinity Fraud

The U.S. Securities and Exchange Commission’s Web site defines an “affinity fraud”: “Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are — or pretend to be — members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing those people that a fraudulent investment is legitimate and worthwhile. Many times, those leaders become unwitting victims of the fraudster’s ruse.” You don’t have to be a believer of any kind to fall prey to affinity fraud but if you are a person who is daily looking for the “leading of God”,  who believes that God is bound to have a hand in the minutiae of your every day life, that there is no such thing as a coincidence and that God is “wanting to bless you” as part of his great plan then you  ...