The alleged Ponzi scheme that preyed on Mormons
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The Immigrant Community - Is This an Affiliation Fraud?
This is a classic example of an affinity fraud, which is basically when people within an identifiable group are exploited. Because there's often a higher level of trust within these groups, members aren't necessarily suspicious of others who might pitch you on an investment. That's what happened to Anne Mabeas and so many other Mormons who got roped into this alleged scheme. She felt really safe because the guy selling it to her said, oh, my family is invested too,. And those are people that she knew as well. So it seemed like a sure thing. Like, why would her friend take advantage of her?
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