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From the article: AMERICAN FORK -- An 80-year-old man thought his life savings was being invested by his one-time LDS bishop, Kevin Palmer Thomas. But by the time the elderly man stopped turning over his money he had lost more than $300,000, a police affidavit states. The affidavit alleges that Thomas, 51, used his leadership position in and knowledge of the LDS Church to earn the man's friendship. The man reportedly had saved more than $400,000 throughout the course of his life, and when he turned it over to Thomas, he believed it was secured with property and promissory notes. Thomas made token payments to the man in order to convince him that he was making a great return on his investment, the affidavit reveals. But then the payments reportedly stopped, and the man learned of his losses. The affidavit also states that Thomas bilked the man out of an additional $15,000 when he convinced him to invest in a "hard money loan." Thomas reportedly spent the money on himself. In addition, Thomas is accused of forging checks worth more than $40,000...Thomas's position in the LDS church is mentioned several times in the affidavit as well.

For those tempted to attack the thread-poster, just be sure to give "equal attack time" to Ldstoday.com, which also linked to this article! (And don't forget the newspaper in the largest concentrated Mormon community on the planet! The Provo paper...be sure to convey that they should have kept this quiet!)

If the Mormons can point out the criminals in their midst, then don't play the hands-off game for non-Mormons.

1 posted on 10/30/2011 6:15:08 AM PDT by Colofornian
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To: All
Affinity fraud occurs across the board.

In recent years, it's been heavily concentrated, religious-wise, in a sect that is only 1.7% of the population: The Church of Jesus Christ of Latter-day Saints, the Mormons.

If you only have time to click on one article link below...read this one: JOHN L. SMITH: Thieves in the temple: How 'affinity fraud' hurts LDS church members

Be sure to read the comments of FBI special agent Cameron Saxey (who is Lds)...the article mentions how the Utah jurisdictional Securities Fraud Task Force was working on 100+ cases...meaning that $1.4 billion total doesn't tell it all!

BTW...I went to absolutely no major effort or had to do any "days of pouring over" the internet to strain these to the surface. Just about all of them were delivered right into my e-mail lap...meaning I wonder what more I'd find if I really dug deeper!

* Tag archives @Utahsecuritiesfraud.com: LDS Church

* Feds arrest St. George business man, philanthropist for mail fraud
Source: Mormon-church owned KSL.com, June 11, 2011

* Former LDS leader charged in fraud against Ute football coach, others
Source: Salt Lake Tribune, June 8, 2011

* Suspected Mormon Con Artist Pleading Guilty to $78M Scam
Source: Streetsweeper.org, May 31, 2011

* Mormon Madoff?
Source: Financial Fraud Law.com, May 27, 2011

* A Fraud Played Out on Family and Friends
Source: New York Times, May 26, 2011

* St. George investor ordered to jail [ex-Lds bishop]
Source: MidUtahRadio.com, April 15, 2011

* Using trust to steal (Utah affinity fraud)
Source: Ogden (UT) Standard Examiner, Feb. 3, 2011

* Mormons Now Losing Billions to Affinity Fraud
Source: Religion Dispatches.org, Sept. 13, 2010

* JOHN L. SMITH: Thieves in the temple: How 'affinity fraud' hurts LDS church members
Source: Las Vegas Review-Journal, Sept. 12, 2010

* Local political gadfly arrested for exploiting elderly woman
Source: Provo Daily Herald, May 4, 2010

* Preying on the faithful: Though Mormons often victims, LDS church skips fraud-prevention event
Source: Salt Lake Tribune, May 2, 2010

* Kaneohe swindler is sentenced
Source: Honolulu Star-Bulletin, April 6, 2010

* Investors with troubled firm have Mormon ties
Source: Austin American Statesman, Jan. 16, 2010

* Man Who Defrauded Fellow Church Goer Pleads Guilty
Source: www.connect2utah.com (KUTV) Jan. 7, 2010

* Lindon Man Accused of Trying to Kill Witnesses to Alleged Scam
Source: MidUtahRadio.com, Nov. 19, 2009

* KSL 5 News investigates affinity fraud
Source: KSL.com Nov. 9, 2009

* Mormon victims are caught up in $50M scam to sell gold bullion
Salt Lake Tribune, Sept. 18, 2009

* LDS Church returned $200K in Southwick Tithing
Source: AP, Sept. 14, 2009

* Merriman's church donations may be tained [Momon Ponzi schemer's tithe monies ill-gotten?]
Source: Denver Post, April 24, 2009

* Man Who Defrauded Fellow Church Goer Pleads Guilty
Source: Fox News, April 8, 2009

* Calif. Man Charged with $40 million Ponzi scheme
Source: AP, March 20, 2009

2 posted on 10/30/2011 6:15:34 AM PDT by Colofornian (When Lds cite 175 yo quotes, that's "spiritual" talk; when YOU cite 'em, LDS go 'calendar' on YOU)
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To: Colofornian

Whatever problems I have with Mormon doctrine, bilking other people is very low on it. At worst, Mormons are no worse than anybody else out there. More than likely, this is an isolated incident that can be remedied by setting up more accountability between the Districts, or the Regions, or Stakes, or whatever the Mormons call it.


4 posted on 10/30/2011 6:39:01 AM PDT by MuttTheHoople (Democrats- Forgetting 9/11 since 9/12/01)
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5 posted on 10/30/2011 6:45:27 AM PDT by DJ MacWoW (America! The wolves are here! What will you do?)
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To: Colofornian

He needed money to pay for all those wives on that planet he’s going to get.


6 posted on 10/30/2011 7:00:10 AM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: Colofornian

Well, let’s see, Harry Reid is a Mormon and he’s conned voters and Democrats for years ... no news here.

The question is ... is it endemic of the religion or of human nature? Or when combined does it bring out the worst in people who follow the religion?

And let’s not quibble about ‘religion’ vs ‘cult’ vs ....


7 posted on 10/30/2011 7:00:49 AM PDT by HighlyOpinionated (I am Roman Catholic, US Citizen, Patriot, TEA Party Alumni, Oath Keeper, Voter, Auburn Fan!)
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To: Colofornian
A Mutt Romney ‘bundler’?
9 posted on 10/30/2011 7:18:08 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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