Crazy Money! A Lover of Money

It’s Crazy Money Day! 

Bill Hwang, was one of the wealthiest Evangelical philanthropists. Now he’ll spend 18 years in prison for wire fraud, securities fraud, racketeering, and market manipulation. According to MarketWatch, Hwang and his former CFO lied to banks to secure loans which inflated their stock prices. When their company, defaulted on highly leveraged margin calls, stock values plunged. Banks lost $10 billion and the company lost $36 billion. In one week, $100 billion disappeared from the stock market. That’s crazy!

Hwang was a double-minded man. He gave $80 million to dozens of ministries which helped him avoid capital gains taxes provided and significant write-offs. He had a criminal past. In 2012, he settled a lawsuit with the US Securities and Exchange Commission for $44 million. He was found guilty of insider trading and stock manipulation. So do your research before investing with anyone, anywhere!

Many people disguise themselves to gain your trust. They give generously only to make themselves look more honorable, but at their core, they love money more than God. “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” (1 Timothy 6:10) Protect your heart from the love of money. The Bible tells us, “Love the Lord your God with all your heart and with all your soul and with your mind and with all your strength.” (Mark 12:30) We cannot serve both God and money.

And if you want to be free of credit card debt, Christian Credit Counselors will help. They’ll create a debt management plan specifically for you. For more information visit online at crown.org/ccc.