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Leaders Warn Lds Against Money Scams

Leaders warn LDS against money scams

The First Presidency of The Church of Jesus Christ of Latter-day Saints has sent a letter to its congregations, urging members to be wary of fraud.

In the letter being read in churches, the First Presidency says "reports of fraud schemes and unwise investments prompt us to again counsel members with respect to prudence in managing one's financial affairs."

"We are concerned that some church members ignore the oft-repeated direction to prepare and live within a budget, avoid consumer debt, and to save against a time of need," the statement reads.
Ref. https://deseretnews.com/article/1,5143,695261200,00.html

Scams Money Lds Warn Leaders

I heard that Utah is big on pyramid schemes, on my mission to California, a member I was talking to said that she was writing a book on the subject, and said that there was more then a few members that lost their life savings. I feel that stories like this, is the main reason that Church leaders keep saying to invest wisely.

Leaders Warn Lds Against Money Scams Studies Doctrine Mormon

I heard the same thing too. A good family I know back in Argentina, many years ago sold everything and moved there (Utah) with the "help" of a brother who resides there. They were scammed by the thousands! They had to return, without a cent and a big family to maintain.

Scams Money Lds Warn Leaders

Yep, money scams, pyramid MLM schemes are huge in Utah. Many LDS in Utah are looking to be rich. I have seen many LDS in and outside of the church lose thousands to them. I also have seen some LDS start them and make millions. We had a brother in the ward start one and made millions, but like many MLM schemes many in the stake lost thousands to him. Eventually the man went to prison over it. It would be an interesting phenomena to read about.

Scams Money Lds Warn Leaders

I know someone that was internet dating with someone overseas. She really fell for him. It was an LDS site. He wanted her account info and thought being endowed meant having a large package? And that didn't raise a red flag right away?

She is very intelligent, but he had her going for 2 months!

People need to watch internet dating as well. Especially mormons, because I think that a lot of them are way to trusting.

Edited: Quasar on 16th Sep, 2008 - 6:08pm

Leaders Warn Lds Against Money Scams

Yes there are wolves in sheep's clothing even in the church. When money talks put on your business hat and leave the gullable one in the closet.

Leaders Warn Lds Money Scams

One thing several posts have touched on vaguely, I will state firmly.

Keep your business hat separate from your church hat.

By that I mean, the reason these LDS money schemes work is that it relies on gullibility; and sometimes the fact the salesman/woman is a Bishop; Stake President; Relief Society President; or any other "high office" of the church. A sales pitch could go like this:
"I"m a (fill in the blank with any church calling), would I lie to you?