Financial experts say consumers should beware of affinity fraud, other threats
It is particularly galling to me that the crook played on his position of
financial responsibility in the Church to lure his unwitting victim. It
reminded me of a Church member I knew who was convicted of financial crimes in
Arizona (including defrauding an ex-spouse) who later landed a position with
considerable credibility (and a new family) back East. Really does make one
wonder if a healthy dose of skepticism and even outright mistrust shouldn't
accompany all of our financial dealings, and particularly those with fellow
He needed to do more than check credentials, he needed a seond and third
opinion. Actually, being a ward or stake financial clerk requiresz NO finanical
or investment experience or expertice. None at all. We see far too much of this.
If he had consulted anybody with any expertice in investments he would have been
warned NOT to put anything more than a VERY small percentage in options.
Actually, he probably would have been warned not to put ANYTHING in options. He
would have been warned that options are among the most risky investments and he
would have been warned that he would probably lose what he invested. However, if
you like to have fun and don't mind the roller coaster, options can be a
good form of recreation (as long as the fun offsets the losses). Never put any
of your serious money into options and never put all of your money with one
Wolfs in sheep clothing and at your door. The Three Little Pigs story has the
same moral to the story. The first two got their house blown over but the third
was built of bricks.
As George of the Jungle so aptly pointed out, this age-old story persists.
Always has, always will. Scammers are drawn to naive church-going people. We
can safely assume there is so a higher concentration of dishonest people in
churches. A very small amount of research brings up countless cases of this
exact scenario. Utah is the scam capital of the US. So many gullible people,
so little time. Surf's up! (says the shark). Just look at what the
victim thought. Hmm....he goes to my church, he handles money. This was the
ONLY criteria he considered before handing over his ENTIRE life savings that
took him thirty long years to accumulate. Mr. Scammer gets a very light tap on
the wrist even though he just devastated a family's finances. You can rest
assured there are more victims. That church congregation better check their
books. Utah also has a higher rate of child sex abuse. Why? Same reason.
Child sex abusers are drawn to where children are. With the ability to do so
much research at your fingertips, there really is no good reason for this to
persist. At this point, it is willful ignorance.
Well stated Kate. Wolves go where the sheep are. When we lived in Florida, we
saw a lot of the same problems with older retirees. They grew up in a more
trusting era and make very good prey for the flim flam man. Very, very sad.
My family and I have known Alan Oviatt for more than 35 years, and I can assure
everyone that he is a great man with a wonderful family, his outstanding life
style based on wonderful principles has inspired me to be much better. I know blogs and news tend go for big headlines... There is a
False System of Value which consists in measuring a person by the worst thing
they know about them... So next time we read, watch or listen to an
article, news or "big headline" that intends to describe some one by an
event which they might not even be very familiar with, we can ask ourself: What is my system of value?What is this persons worth?