Crazy Money – Not Another Ponzi Scheme!!
It’s Crazy Money Day!
Have you heard about the Ponzi scheme that swept through Bethel Church in Redding, California? An attendee of the church set up investment companies with his business partner and swindled investors out of $35 million dollars. Thirty-five million!
Tight-knit communities, like churches, present prime opportunities for schemers. They know that church members tend to trust one another. So they intentionally get to know wealthy people in the church and lure them into their deals. Those people pass on the investment opportunity to their friends and the deception spreads like wildfire. There’s a significant difference between being a good steward who invests for future needs and one who’s trying to get rich quick. This attitude has several dangerous premises.
• You get involved with things you don’t understand.
• You make hasty decisions.
• You suffer significant losses.
Proverbs 21:5 says: “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” Bethel Church should have been better prepared. The same thing happened in 2009 by a different attendee. My hope is that churches will protect their congregations by teaching Biblical financial principles and alerting them to these scams. Now if you or someone you know has been scammed, ask God for help. I’ve seen Him restore victims in remarkable ways. Only He can work all things together for good.
Now debt can make you vulnerable to get-rich-quick schemes. If you’re struggling with credit card debt, I recommend Christian Credit Counselors. They can create a debt management plan just for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.