Baron Dave Romm (barondave) wrote,
Baron Dave Romm
barondave

Faith-based crime

Religion-related fraud getting worse

Between 1984 and 1989, about $450 million was stolen in religion-related scams, the association says. In its latest count — from 1998 to 2001 — the toll had risen to $2 billion. Rip-offs have only become more common since.

"The size and the scope of the fraud is getting larger," said Patricia Struck, president of the securities association and administrator of the Wisconsin Department of Financial Institutions, Division of Securities. "The scammers are getting smarter and the investors don't ask enough questions because of the feeling that they can be safe in church."
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