A rash of pastor-endorsed fraud taints our gospel witness
It begins with a seemingly sincere offer of help from a trusted, Jesus-loving voice. But the conversation always dead-ends in perdition.
Case in point: The New Covenant Christian Center, a Seattle-area
independent church, was the setting where a tragically familiar Ponzi scheme
took root in 2003. The scheme's organizer offered to double or triple invested
money in a matter of weeks through an overseas trading program. In total, 24
church members handed over $1.6 million until law enforcement intervened in 2011
as the fraud collapsed. Who was that trusted voice behind this Ponzi? Anthony C.
Morris, the pastor.
In recent years, Ponzi frauds that prey on the naïve, innocent,
and trusting have lost billions. The Madoff Ponzi's price tag alone was $20
billion. In these schemes, the organizer offers a high return rate at low risk,
but in reality he pays existing investors with funds collected from new
investors. Read more
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