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From the article: ...the one player that all agree has to lend its loud voice to the proceedings if they are to be as effective as possible will be largely silent -- the LDS Church. This is Utah, after all, where The Church of Jesus Christ of Latter-day Saints claims about 60 percent of residents as members. Beyond the numbers, there is the church's organization into close-knit local wards led by male authority figures where members' social and religious lives revolve around shared beliefs in the sacredness and uniqueness of their religion. Those characteristics make Mormons vulnerable to what regulators and government investigators label "affinity fraud" in which groups who through shared associations develop bonds of trust that can be easily exploited by con artists..."There's this notion that if you pay your tithing and do what you're supposed to do, the windows of heaven will be open to you and God will pour you out a blessing such that there's not room enough to receive it," said Keith Woodwell, a church member and director of the Division of Securities, the state's chief investigator of investment fraud. "So it's very easy for someone who has [fraud] as their motive to use that doctrine and say, 'Look, you're a member in good standing and you pay your tithing and you're entitled to be blessed.'" ...the church, after initially signaling to organizers that it would be a key player in the fraud conference that is drawing representatives of other faiths, has chosen not to send a high-ranking authority to speak. A church spokesman declined to say why it was not participating. Mark F. Zimbelman, a Brigham Young University professor of accounting who teaches a class about how frauds are committed, will be the LDS member on the interfaith panel at the Fraud College. But he said will not be speaking for the church. The church's decision is a disappointment for organizers, who wanted a strong LDS presence to send a message about safe investments. "I don't think any church has done enough, including the Mormon Church," said attorney Brent Baker, a former Securities and Exchange Commission lawyer and a specialist in securities fraud cases.

From the article: But organizers saw the involvement of the LDS Church as crucial, given the level of fraud perpetrated in its ranks and what many perceive as its muted response to the problem. "I think more needs to be done" by the church, said Francine Giani, a church member and executive director of the state Department of Commerce. "A couple of years ago we saw a statement that was read over the pulpit that I was happy about, but we should see more and we should see it often." In a written statement, LDS Church spokesman Scott Trotter said church leaders have been warning members for years about the dangers of fraud and get-rich-quick schemes. "These messages have been delivered over the pulpit in General Conference, in official letters from church leadership, and in articles found in official church publications," he said.

From the article: Barbara Bowden knows the pitch all too well. She and members of her family invested about $1 million with a former LDS bishop, mostly because of his standing in the church. "Bill Hammons reached a great deal of people in the church, and I know he did perpetuate the fact that he was a bishop or had been a bishop and that was first and foremost your reason for trusting him," said Bowden. Hammons of St. George is facing trial this year on 10 felony fraud-related charges for allegedly helping bilk dozens of people out of tens of millions of dollars. Hammons, who denies he knowingly participated in a crime, was the largest fundraiser for VesCor Capital, the entity associated with what appears to be the biggest financial fraud case in Utah history. VesCor owner Val E. Southwick, who is serving a lengthy prison sentence for his role, displayed LDS symbols in his Ogden office, and was known to sometimes push his Mormon temple recommend across his desk at potential investors. Southwick has been excommunicated, the church confirmed on Friday.

From the article: Worst in the country » Fraud is a long-standing problem in the state, stretching back decades as it ebbs and flows, coming back each time with a vengeance, said James Malpede, who Leads the FBI's white-collar crime unit in the state. Utah has lost its ranking as the top state per capita in fraud but it remains a huge problem. "I'd say per capita it is one of the worst in the country," said Malpede. How bad? The agency is mostly limiting itself to investigating cases in Utah involving $20 million or more. "Most of what we're working on is $25 million and up, and a lot of what we're working on is $100 to $150 million and more," said Malpede. Attorney Baker said he came up with an estimate of the amount of money Utahns lost to big fraud schemes in 2009 based on cases in which charges have been filed and those he knows of where no actions have yet been brought. "I did a rough calculation of Ponzi schemes I saw over the last year that came through Utah and I would say it was at least $750 million."

inability of government to deal with the problem,

But that doesn't seem to slow them down with 'solutions'

/johnny

I've seen over a dozen mainstream media articles on affinity financial fraud in the Lds church over the past 14 months. California. Texas. Colorado. Utah. Etc. (And they were all posted on FR; some by Alex Murphy; some by others; some by myself).

When will the Lds church wake up and take a more assertive leadership role?

What an odd thing to admit to: "There's this notion that if you pay your tithing and do what you're supposed to do, the windows of heaven will be open to you and God will pour you out a blessing such that there's not room enough to receive it," said Keith Woodwell, a church member and director of the Division of Securities, the state's chief investigator of investment fraud. "So it's very easy for someone who has [fraud] as their motive to use that doctrine and say, 'Look, you're a member in good standing and you pay your tithing and you're entitled to be blessed.' "

God is not Santa Claus. Where do they get this stuff? Not from the Bible.

I was one of the lucky young returned missionaries that was hired after college by Xerox Corporation in 1967. I was sent to the San Francisco branch in Mountain View California. I was able to ascend very quickly in the corporation because of the church training of selling concepts. Selling copiers was very easy. Ethics was another matter.

As a young manager I sought out and hired several RM’s because of the belief that RM’s were already trained to sell, which they were. Then I noticed a certain attitude that was sort of like the Romney approach which in my opinion lacks ethics. Seems like nothing matters but getting the order. I too had that opinion sorry to say. And as long as you bear fervent testimony everything is right. I left the church thirty years ago.

I don’t think any church has done enough, including the Mormon Church,” said attorney Brent Baker, a former Securities and Exchange Commission lawyer and a specialist in securities fraud cases.

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What is this person talking about the Church is not a nanny.

the motto has always been “Teach them correct principles and let them govern themselves!”

LDS Church skips fraud-prevention event...

Well... DUH!

Ya can't let the mark get TOO wise; or else the vig, the juice, the take may start to shrink - and the Boss won't be very happy with that!

temple recommend questions

1 Do you have faith in and a testimony of God the Eternal Father, His Son Jesus Christ, and the Holy Ghost?

2 Do you have a testimony of the Atonement of Christ and of His role as Savior and Redeemer?

3 Do you have a testimony of the restoration of the gospel in these the latter days?

4 Do you sustain the President of the Church of Jesus Christ of Latter-day Saints as the Prophet, Seer, and Revelator and as the only person on the earth who possesses and is authorized to exercise all priesthood keys? Do you sustain members of the First Presidency and the Quorum of the Twelve Apostles as prophets, seers, and revelators? Do you sustain the other General Authorities and local authorities of the Church?

5 Do you live the law of chastity?

6 Is there anything in your conduct relating to members of your family that is not in harmony with the teachings of the Church?

7 Do you support, affiliate with, or agree with any group or individual whose teachings or practices are contrary to or oppose those accepted by the Church of Jesus Christ of Latter-day Saints?

8 Do you strive to keep the covenants you have made, to attend your sacrament and other meetings, and to keep your life in harmony with the laws and commandments of the gospel?

9 Are you honest in your dealings with your fellowmen?

10 Are you a full-tithe payer?

11 Do your keep the Word of Wisdom?

12 Do you have financial or other oblgations to a former spouse or children? If yes, are you current in meeting those obligations?

13 If you have previously received your temple endowment:

Do you keep the covenants that you made in the temple?
Do you wear the garment both night and day as instructed in the endowment and in accordance with the covenant you made in the temple?

14 Have there been any sins or misdeeds in your life that should have been resolved with priesthood authorities but have not been?

15 Do you consider yourself worthy to enter the Lord's house and participate in temple ordinances?

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