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Posted by: Heartless ( )
Date: January 10, 2021 05:23AM

Remember the Rust Coin ponzi scheme?

Gaylen Rust and his family stole about $300 million from unsuspecting investors and dutifully paid tithing on their ill gotten gains.

As part of the recovery of the stolen funds the court sought to recover charitable contributions. As a result, the Corporation of the church of jesus christ of latter-day saints, agreed to return nearly $2.4 million. The money will be returned to the investors. Minus of course attorney fees.

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Posted by: Gordon B. Stinky ( )
Date: January 10, 2021 07:21AM

Shouldn’t tithing on $300 million be $30 million? TSCC was robbed too! ;)

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Posted by: NormaRae ( )
Date: January 10, 2021 09:03AM

TSCC encourages its members to tithe on any fraudulent gains they get. As long as they give the church it’s 10% cut, they will overlook their criminality and give them temple recommends. Unless it’s made public enough that the PR changes the game. But giving back the drop in a bucket, compared to the billions they have, when they are ordered to is worth it to overlook the money they know they are getting due to fraud. A big time crook who is fined millions by the government for fraudulent business practices, but gives TSCC its cut never misses a kids’ temple wedding as people who can’t come up with the dues because they’re struggling to support their families have to.

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Posted by: elderolddog ( )
Date: January 10, 2021 01:50PM

It would have been amusing had the church attempted to account for interest earned on the money while it was in their possession...

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Posted by: Dallin Ox ( )
Date: January 10, 2021 03:31PM

The amount itself is kind of funny. What, they couldn't just round up?

It's as if they said, "Here's the $2.4 million we settled for, less $64.83 in processing and administrative fees."

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Posted by: Brother Of Jerry ( )
Date: January 10, 2021 03:50PM

Paying tithing on Ponzi scheme "earnings" makes it oh so much easier for the perpetrators to convince themselves that what they are doing is not illegal. This will give them a deep sense of self confidence which helps pull off the scam.

Further, this was affinity fraud. If they pay tithing on the ill-gotten gains, presumably a ward clerk and bishop will know. Even if they don't say anything directly, they will treat the scammers like really righteous rich people, and ward members will notice, and switch on the obsequious charm, hoping to cash in too.

There's a reason it's called a confidence game, and the perp is called a con man.

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Posted by: Heartless ( )
Date: January 10, 2021 07:42PM

The "Silver Pool" actually paid the church direct on the behalf of some investors. See...earn cash. Thithing taken care of. Out of sight and out if mind.

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Posted by: bradley ( )
Date: January 10, 2021 09:59PM

Funny how it takes a court order to get the Church to do the right thing.

“Choose the right when a court order is placed before you...”

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Posted by: moremany ( )
Date: January 11, 2021 12:58PM


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