Utah's $50 Million Real Estate Scam - Posted by John J.

Posted by James-UT on July 02, 2003 at 07:43:03:

Actually, you’re quite wrong. Mormons are supposed to pray and gain a personal testimony for themselves of everything the church dictates.

Utah’s $50 Million Real Estate Scam - Posted by John J.

Posted by John J. on June 29, 2003 at 21:46:11:

I met and spoke with several of the people mentioned in the following stories as they approached me with a full-price offer for a high-end home that I had been sitting on for a while. I got cold feet after I did my due dilligence regarding their scheme, but many investors and homeowners did not and lost all that they had. One of Utah’s most respected and prominent radio talk show hosts lost his $500K home to them.
Although according to someone quoted in one of these stories, Utah has the distinction of being the bankruptcy and fraud capital of the United States, anyone in any state can fall victim to such a scam. Mortgage and escrow fraud amounted to $600 billion in losses nationwide in 2001.
Read these stories so you may recognize a scam when you run accross a similar one.

Re: Utah’s $50 Million Real Estate Scam - Posted by JD

Posted by JD on June 30, 2003 at 09:36:39:

Great story. Talk show hosts have such unwarrented egos, lol. I must take issue with a couple of the quoted “facts”. Sans factual data, I will not believe that Utah is the Bankruptcy and fraud capital of the US, my educated guess would be Floirda. The MARI number of $600 Billion in escrow fraud loses in 2001 doesn’t make any sense, that would be approximatelly $10,000 per property escrow in 2001.

Up to 30 years each in prison - Posted by John J.

Posted by John J. on June 30, 2003 at 24:11:30:

http://www.sltrib.com/2003/jun/06282003/business/70609.asp (2nd story)

by ex-Mormon missionaries. n/t - Posted by chaz

Posted by chaz on June 29, 2003 at 22:04:45:

hmmmm! Utah has always been the fraud capital of the U.S. Wonder why they are so gullible.

Re: by ex-Mormon missionaries. n/t - Posted by Bryan-SactoCA

Posted by Bryan-SactoCA on June 30, 2003 at 18:05:38:

The scary thing is how many LDS Church officials are involved in scams. Typically, a ward or stake president (sort of like a bishop) will pitch an investment opportunity that is too good to be true, but since the flock is told that an Authority’s word is as good as that of the Heavenly Father (what Mormons call God) Himself, the money pours in, only to disappear, along with the Authority, a year or two later. This aura of infallibility often extends to family members of the Authority, who also make millions in scams. Mormons are indoctrinated from birth to believe anything and everything they’re told by the church leadership, which often leads to them believing whatever they’re told by anybody, which makes them sheep led to slaughter.