In recent years, it's been heavily concentrated, religious-wise, in a sect that is only 1.7% of the population: The Church of Jesus Christ of Latter-day Saints, the Mormons.
If you only have time to click on one article link below...read this one: JOHN L. SMITH: Thieves in the temple: How 'affinity fraud' hurts LDS church members
Be sure to read the comments of FBI special agent Cameron Saxey (who is Lds)...the article mentions how the Utah jurisdictional Securities Fraud Task Force was working on 100+ cases...meaning that $1.4 billion total doesn't tell it all!
BTW...I went to absolutely no major effort or had to do any "days of pouring over" the internet to strain these to the surface. Just about all of them were delivered right into my e-mail lap...meaning I wonder what more I'd find if I really dug deeper!
* Tag archives @Utahsecuritiesfraud.com: LDS Church
* Feds arrest St. George business man, philanthropist for mail fraud
Source: Mormon-church owned KSL.com, June 11, 2011
* Former LDS leader charged in fraud against Ute football coach, others
Source: Salt Lake Tribune, June 8, 2011
* Suspected Mormon Con Artist Pleading Guilty to $78M Scam
Source: Streetsweeper.org, May 31, 2011
* Mormon Madoff?
Source: Financial Fraud Law.com, May 27, 2011
* A Fraud Played Out on Family and Friends
Source: New York Times, May 26, 2011
* St. George investor ordered to jail [ex-Lds bishop]
Source: MidUtahRadio.com, April 15, 2011
* Using trust to steal (Utah affinity fraud)
Source: Ogden (UT) Standard Examiner, Feb. 3, 2011
* Mormons Now Losing Billions to Affinity Fraud
Source: Religion Dispatches.org, Sept. 13, 2010
* JOHN L. SMITH: Thieves in the temple: How 'affinity fraud' hurts LDS church members
Source: Las Vegas Review-Journal, Sept. 12, 2010
* Local political gadfly arrested for exploiting elderly woman
Source: Provo Daily Herald, May 4, 2010
* Preying on the faithful: Though Mormons often victims, LDS church skips fraud-prevention event
Source: Salt Lake Tribune, May 2, 2010
* Kaneohe swindler is sentenced
Source: Honolulu Star-Bulletin, April 6, 2010
* Investors with troubled firm have Mormon ties
Source: Austin American Statesman, Jan. 16, 2010
* Man Who Defrauded Fellow Church Goer Pleads Guilty
Source: www.connect2utah.com (KUTV) Jan. 7, 2010
* Lindon Man Accused of Trying to Kill Witnesses to Alleged Scam
Source: MidUtahRadio.com, Nov. 19, 2009
* KSL 5 News investigates affinity fraud
Source: KSL.com Nov. 9, 2009
* Mormon victims are caught up in $50M scam to sell gold bullion
Salt Lake Tribune, Sept. 18, 2009
* LDS Church returned $200K in Southwick Tithing
Source: AP, Sept. 14, 2009
* Merriman's church donations may be tained [Momon Ponzi schemer's tithe monies ill-gotten?]
Source: Denver Post, April 24, 2009
* Man Who Defrauded Fellow Church Goer Pleads Guilty
Source: Fox News, April 8, 2009
* Calif. Man Charged with $40 million Ponzi scheme
Source: AP, March 20, 2009
It goes across the entire board. I grew up in Alabama, and the local church as I attended as a kid...got into serious budget issues (they had borrowed lots of money and owed the bank way more than they could ever pay back). So they started visiting elderly folks in the area and openly discussing having them “will” the church tens of thousands of dollars when they pass on. As the children of parents began to realize the implications....they got into some serious mud-slinging and it really tore up the membership of local churches.
All in all....whatever dimwitted nature our local politicians and Mayors showed in making poor financial decisions.....I think religious groups have done the same thing.
So were these men also former boyscouts, military members, Kiwanas members?
Its dangerous to associate behavior with affiliation unless its being done in a large scale study.