4 ms·

My understanding is that many religious communities are targeted by fraudsters like ponzi-schemes, or MLMs (that may in some cases be legal but in most cases ar

by elkos 4y ago

My understanding is that many religious communities are targeted by fraudsters like ponzi-schemes, or MLMs (that may in some cases be legal but in most cases are financially detrimental).

boeingUH60 4y ago
Yeah, but Utah is just an extreme case. I detest reading about MLMs and similar fraudulent schemes, but almost every one I read about happens to come from there. I'm not Mormon or even American...just an outside observer, but what makes that place so ripe for these schemes?
- mistrial9 4y ago
  that LDS community is high-trust environment plus many barriers to entry. I suspect that part of the reason one guy shot himself so quickly over a money crime is that he knew that the social condemnation would be intense and endless, in that world.
- atkailash 4y ago
  [dead]
caminante 4y ago
The article references another article that goes into detail about "affinity scams". > Most scams are not carried out as big institutional frauds. Rather, it is a friend or a fellow Rotarian, your accountant or even the local church deacon putting together that Ponzi scheme. He’s in your group. You have the same interests. It’s almost unimaginable that he would rip you off. It’s called “affinity fraud.” [0] [0]https://www.washingtonpost.com/business/beware-the-ponzi-schemer-next-door/2011/05/03/AFdz8e8F_story.html https://www.washingtonpost.com/business/beware-the-ponzi-sch...