Why Jehovah's Witnesses Are Susceptible To Ponzi-Schemes and Rip-Off Artist More than the public!
A one time I was attending more MLM meeting then meetings at the KH...
You have a ready made down line in the borg....
lol In California we had an Elder giving boob massages to "clear the lymph nodes" . He had naked JW women 10 deep paying him to give them an oily boob massage!
Balaam ' clear the lymph nodes.'
Clear the lymphs for the nymphs?
That was Elder was just "annointing them with oil".
- Wing Commander
Sorry, as a group they lost "millions of dollars", one Circuit Overseer who recently died put in $500,000 he inherited from his wife's Aunt, don't know why she did not divorce him over his stupidity, he was a very smart man before he joined the Cult (Engineer Structural, Bridge Building degree) he throw away his job to become a Circuit Overseer at the age of 28 years old. The Circuit and District Overseers lost "millions of dollars" as a whole, believe it or not, a few did get inheritances from some rich elderly JWs who received extra attention and visits when the CO would come to town. One elderly sister without kids left her favorite CO $700,000 because he called her every other week to check up and see how she was doing spiritually, it helped she sent him a check once a month for $1000 to defray his expenses. Money talks in the Watchtower Organizatinon, I still have not met the last two circuit overseers because I stopped attending the meetings when those clowns were in town!
The sheep got clubbered, I think the total scam took out over $40,000,000, some of the early COs and DOs got all their money because they needed to pay bills, other's got nothing but a good old JW I.O.U.
In Orange County California there were a group of Brothers who ran a Stock Brokerage Firm that ripped off many of the JWs, myself included. Several principles of the Firm did prison time.
Did you see "Wolf of Wall Street" Designs? I knew some guys who ran a "Boiler Room" out of Texas selling Penny Stocks to all the JWs in Southern California, most of their recommendations were as Henry Bloodget said "Heaping piles of "S($T!", the CFA who is banned along with World Comm's Cheerleader who worked for Smith Barney, what was the crook's name who helped propel WorldConn in to the biggest long-distance scam ever?
The Market is frothy right now, when you hear people who don't ask ever ask about the Stock Market "how can I get in" it's time to sell most of your assets and sit back for some time. The brother I mentioned said "lots of JWs are calling him about putting their money in Mutual Funds but don't have enough to meet the "initial investment" $2500 for lots of his Funds. They can't afford the "Asset Builder" of $100 a month and expect him to work magic with $500, best advice is for them is, I don't know? What do you tell JWs who can't afford to set aside $100 a month because they are living pay-check to pay-check? One JW who got took for cash got in a really bad car wreck, his wife allowed him to invest $500,000 in great stocks like Enron, World Com and when she got her second dispursement she put them in stocks like Freddy Mac and Fannie Mae before the Second Great Meltdown.
JWs have no business playing with financial markets, they need to stick with all the spiritual treasure they have building up in the New System.
One of the Brothers on this site told everyone to sell their Gold back when Gold hit $1800 because it was pure froth, said to invest in the stock market while Doom and Gloomers said Buy Gold, guess they were wrong?
BSB- yes i finally saw the movie. The brothers running this Brokerage were selling 'Viaticals' basically death insurance policies you cashed in early. Front loading T Bills. They cost a lot of JWs their entire life savings. It was criminal and made headlines in the local papers.
Interesting accounts, thanks for sharing. I can't speak on the subject of financial debacles, but I gradually noticed as I grew up that JWs were quite gullible towards each other, and it was what started me to questioning the truth on some level. I had realized that various urban legends were being shared credulously from car group to car group. The Smurf stories, and others that also have currency among other small religious groups, like the John Denver hated us meme. So it stands to reason that JWs will be easy for other JWs to fleece as well.
John Denver, the singer from the Aloha States hated us too, how many Hollywood Singers hated us according to Watchtower Legend? When John Denver's plane fell out of the sky off the Coast near Monterery, I heard many JWs say "Oh Yeah, now he's going to have to eat his words when he's brought back from the dead!"
Who was from the Aloha State the Witnesses said hated the Organization?
Your best bet is to invest in a passive Index Fund and find a place that charges $2.00 to buy each time you want to buy a Index. Compare this Islamic Based Fund vs the Indices, you don't have the transaction costs and some Fund Manager trying to chase the Alpha costing you money. CALPERs recently decided to get rid of their exposure to Hedge Funds because they underperformed all the Indices but you must remember most of the Nasdaq Stocks are underperforming, the top positions like Apple and Semi-conductors are moving these things higher. Latin America has been in a Bear Zone for a long time, Japan's Thirty Year Recession, stick with Ultra-Low Cost Index Funds.
These are leveraged funds and one is a Business Loan Fund (BDCL) Wells Fargo Development, these are not for the average person, for some of the JWN Members who know what they are is why I posted them.