Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Investors with troubled firm have Mormon ties
Austin American-Statesman ^ | Jan. 16, 2010 | Eric Dexheimer and Tim Eaton

Posted on 01/17/2010 2:54:36 PM PST by Colofornian

click here to read article


Navigation: use the links below to view more comments.
first previous 1-2021-30 last
To: Colofornian

Six links looks worse than it is, since 3 of them all refer to the same case.

Another one is allegedly [”Jeff also claims to be married to Erin Mowen - and has 5 children by her. The State of Utah also says he is merried to Elixzabeth Ward.” http://www.whoisjeffmowen.com/] a bigamist...hardly a “good” mainstream LDS member. Oh, and he was already jailed and standing trial on the other charges, operating the intimidation attempt from jail.

As for your stats, if Mormons are 2% of the population, then how does that stack up agains this?

In all, more than 150 Ponzi schemes collapsed in 2009, compared to about 40 in 2008, according to the AP’s examination of criminal cases at all U.S. attorneys’ offices and the FBI, as well as criminal and civil actions taken by state prosecutors and regulators at both the federal and state levels. http://www.journalnet.com/news/national/article_36fcf528-ef05-5163-a379-29fe3a8defac.html

As for the LDS leadership warning members, maybe other groups should follow suit, rather than trying to make it out to be a bad thing?


21 posted on 01/17/2010 5:19:01 PM PST by ApplegateRanch (I think not, therefore I don't exist!)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Little Bill

My first impression of the article was that it was, as you said, a hit piece on the Mormons. But the article didn’t make the connsection that the guy was a con man because he was a Mormon. It seemed to me that it suggested that Barton was a Mormon because he was a con man, and he abused the church’s vetting process.


22 posted on 01/17/2010 5:47:15 PM PST by sig226 (Bring back Jimmy Carter!)
[ Post Reply | Private Reply | To 8 | View Replies]

To: ApplegateRanch
Six links looks worse than it is, since 3 of them all refer to the same case.

As I said, this article revolves around TX victims...one of the links, Aurora, CO; the earliest link, Sacramento area; Mowen was from Lindon, UT; Merriman, from Taylorsville, UT. That's five regions right there that the perps were hitting up -- and I wasn't pretending to be comprehensive (as if I know of all the Lds fraud going on out there).

Let me give you info about a story that was splashed across the nation--hitting even the Bloomberg News, which the Salt Lake Trib republished (Sept. 18, 2009)

See Mormon victims are caught up in $50M scam to sell gold bullion...

I mention this case both because one of the perps in this case was actually a Christian pastor from Perris, CA, and because of some of the interesting observations by Utah insiders:

From the Salt Lake Trib, Sept. 18, 2009, republishing the Bloomberg News piece: Ned Hill, a professor of business management and a former dean of the Marriott School of Management at Brigham Young University in Provo, notes that Mormons have a history of being victimized by financial scams. The church teaches its 13.5 million members they can get into heaven by following a prescribed path of good works. "What you have in a Mormon community or any religious community is a community of trust, and it can be very strong," said Hill, who is a Mormon. "If you can break into that trust, then the things that make this so supportive can make people really vulnerable. Mormons can be especially vulnerable because they're committed to doing good." Jones, Jennings and Simburg, none of whom is a Mormon, exploited this vulnerability for at least four years, offering a cocktail of spirituality, exclusivity and the promise of high returns. "The guys who did this were geniuses in a way," said Dana Carney, an assistant professor of management at the Columbia University Graduate School of Business in New York, who has written about investor psychology. "This has the flavor of a cult. They hit all these vulnerabilities. There was religion; we trust like people, especially religiously like people. With the nightly calls, there was an illusion of transparency. They took advantage of the sunk-costs phenomenon: The more people invest in something, the more connected they feel." Taylorsville resident, Danniel J. Merriman was named in a Securities and Exchange Commission complaint as an investor who also solicited investments from others and forwarded the money to the scammers. Merriman also apparently used the last name Meniman. The SEC called Merriman one of the "significant promoters who brought man victims into the fraud.

As for your stats, if Mormons are 2% of the population, then how does that stack up agains this? In all, more than 150 Ponzi schemes collapsed in 2009... [ApplegateRanch]

Wow!!!! You are hilarious!!! So who are you -- the FFA? (Financial Fraud Apologist?)

Of course, for your outright vast statistical distortion attempt, we would first need to buy into your horrendous assumption here that of these 150 Ponzi schemes that collapsed in 2009, all 150 were either generated by religious folks or at least vastly exploited them.

Tell you what: Why don't you do the research on these 150 Ponzi schemes, and then tell me what # were either generated by key religious people of influence -- or vastly exploited them -- and then we'll have what the overall pool # is to give you a nice % answer.

23 posted on 01/17/2010 5:51:42 PM PST by Colofornian (If you're not going to drink the coffee, at least wake up and smell it!)
[ Post Reply | Private Reply | To 21 | View Replies]

To: ApplegateRanch
Mowen...a bigamist...hardly a “good” mainstream LDS member.

Why do you say that? Lds current teachings from the top on down --while yes, threaten ex-communication for bigamy/polygamy -- actually supposedly simultaneously "practices" what is tantamount to the opposite approach!!!

What do I mean? Well, Lds-wise, if you marry serially to multiple spouses in your lifetime, AND are married to EACH in the temple & sealed to them for eternity, then you become, upon death (Lds say), an eternal bigamist/polygamist!!! So the issue to them is in reality simply a mere turf distinction -- of WHERE it's "OK" to be practiced: Earth, no -- at least not until the Mormon jesus returns (so says Lds apostle Bruce R. McConkie in his book, Mormon Doctrine, who referenced polygamy in his book as a "holy practice");...

...whereasother colonies beyond death? Yes, of course! Both as mentioned above as well as all the 20th and 19th century Lds polygamists!!! (They say "families are forever!") I mean, you can't get any more "mainstream" than Joseph Smith or Brigham Young!!!

24 posted on 01/17/2010 5:57:04 PM PST by Colofornian (If you're not going to drink the coffee, at least wake up and smell it!)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Colofornian
"I should have just stopped and thought about it," she said.

If a person is gullible about MORMONism - they just might be gullible about other things.

25 posted on 01/17/2010 6:33:45 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: panaxanax
Just another chance to attack Mormons from the usual suspects here at FR.

We cannot afford statues in downtown SLC.

26 posted on 01/17/2010 6:37:55 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
[ Post Reply | Private Reply | To 11 | View Replies]

To: ApplegateRanch
 
Or is Colofornian just suddenly ashamed of posting this blatant hit piece?
 
 
I know EXACTLY what you are talking about!!


http://scriptures.lds.org/en/js_h/1/17#17

  17 It no sooner appeared than I found myself delivered from the enemy which held me bound. When the light rested upon me I saw two Personages, whose brightness and glory defy all description, standing above me in the air. One of them spake unto me, calling me by name and said, pointing to the other—This is My Beloved Son. Hear Him!
  18 My object in going to inquire of the Lord was to know which of all the sects was right, that I might know which to join. No sooner, therefore, did I get possession of myself, so as to be able to speak, than I asked the Personages who stood above me in the light, which of all the sects was right (for at this time it had never entered into my heart that all were wrong)—and which I should join.
  19 I was answered that I must join none of them, for they were all wrong; and the Personage who addressed me said that all their creeds were an abomination in his sight; that those professors were all corrupt; that: “they draw near to me with their lips, but their hearts are far from me, they teach for doctrines the commandments of men, having a form of godliness, but they deny the power thereof.”
  20 He again forbade me to join with any of them; and many other things did he say unto me, which I cannot write at this time. When I came to myself again, I found myself lying on my back, looking up into heaven. When the light had departed, I had no strength; but soon recovering in some degree, I went home. And as I leaned up to the fireplace, mother inquired what the matter was. I replied, “Never mind, all is well—I am well enough off.” I then said to my mother,
“I have learned for myself that Presbyterianism is not true.”
 
 
 

27 posted on 01/17/2010 6:40:58 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Colofornian
 
 
"James P. Lewis, Jr. may have launched his con on a Sunday.  After all, he collected the seed money for one of the longest-running Ponzi schemes in U.S. history at [the Mormon] church."
[snip]
"To start, Lewis recruited people from his Mormon church in Southern California.  But over time, his con grew legs and expanded well beyond the confines of his community.  At the time of his arrest, Financial Advisory Consultants had about 3,300 clients who had invested $311 million on the promise of 40 percent returns.  A select group of these investors – the wealthier individuals who were less likely to withdraw their funds from his custody – actually saw returns. "
 
http://www.thehallofinfamy.org/inductees.php?action=detail&artist=james_lewis

28 posted on 01/17/2010 11:47:28 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ApplegateRanch
>>Why is it relevant here, that there were "LDS ties",
 
Maybe it's just a casual observation that LDS' hierarchical/tyranical structure tends to elevate ponzi-scheming ladder climbing to an art form?
 
 
"I HAVE SWORN UPON THE ALTAR OF GOD ETERNAL HOSTILITY TO EVERY FORM OF TYRANNY OVER THE MIND OF MAN"
--Thomas Jefferson

29 posted on 01/18/2010 9:48:10 AM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: ApplegateRanch

Well, he just came back with his answer. Threw in Bernie Madoff for good measure.

I think we’ve got your drift Colofornian.


30 posted on 01/18/2010 10:30:37 AM PST by Inkie
[ Post Reply | Private Reply | To 15 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-30 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson