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Ex-Mormon Bishop Charged in $20M Ponzi Scheme
Fox News ^ | April 08, 2009

Posted on 04/09/2009 12:44:56 PM PDT by Alex Murphy

AURORA, Colorado — A former bishop in The Church of Jesus Christ of Latter-day Saints allegedly operated a pyramid scheme from his suburban Denver home for about 15 years, bilking investors out of millions of dollars to collect religious art and classic cars.

A lawsuit filed Tuesday in U.S. District Court in Denver by the Securities and Exchange Commission alleges Shawn Merriman, an unlicensed broker, collected up to $20 million from investors in several states to support a lavish lifestyle.

Merriman has not been charged with a crime but the matter remains under investigation, said Jeff Dorschner, spokesman with the U.S. attorney's office.

Authorities say Merriman had several classic cars — including a silver Aston Martin, 1932 and 1936 Auburns and a 1932 Ford Highboy — guns, taxidermy and artwork that included Rembrandts and other Old Masters. Federal marshals Wednesday were freezing bank accounts and seizing cars, guns, artwork and a home in Aurora, two properties in Idaho, and artwork from a home in Alpharetta, Georgia.

Merriman, a former stock broker, allegedly began an investment fund in 1995 that employed an aggressive strategy, but he quickly lost $400,000. He allegedly started other funds to hide his losses and cover withdrawal requests.

A message left for Merriman at his Aurora home Wednesday was not immediately returned, and court records did not list an attorney for him.

The U.S. attorney's office, which moved to seize Merriman's assets earlier this month in an effort to preserve as much money as possible, said Merriman attracted investors through friends and business associates. Thirty-eight people or groups in Colorado, Minnesota and Utah, as well as other states invested money with Merriman.

(Excerpt) Read more at foxnews.com ...


TOPICS: Front Page News
KEYWORDS: fraud; lds; mormon; ponzi
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To: Glenn
LOL!!

Whatever, Glenn

21 posted on 04/09/2009 3:53:52 PM PDT by Osage Orange (Our constitution protects aliens, drunks and U.S. Senators. -Will Rogers)
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To: Osage Orange

Stand for nothing, fall for anything.


22 posted on 04/09/2009 4:01:24 PM PDT by ejonesie22 (Stupidity has an expiration date 1-20-2013 *(Thanks Nana))
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To: Osage Orange

Hey don’t include the Presbyterians in your mix, we don’t stand for anything anymore, we can go any direction.


23 posted on 04/09/2009 4:03:04 PM PDT by BooBoo1000 (Some times I wake up grumpy, other times I let her sleep/)
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To: BooBoo1000; Glenn
Talk to Glenn....

But I understand..........

Ha!!

24 posted on 04/09/2009 4:06:29 PM PDT by Osage Orange (Our constitution protects aliens, drunks and U.S. Senators. -Will Rogers)
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To: Glenn
Heck..Glenn.

Free America!!

25 posted on 04/09/2009 4:07:31 PM PDT by Osage Orange (Our constitution protects aliens, drunks and U.S. Senators. -Will Rogers)
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To: Alex Murphy
Hmm, reminds me of another guy who bilked his fellow Mormons out of millions...
 
 
 
http://www.robbevans.com/html/finadvnews.html
 
 
Maybe they can be roomies at the Federal Country Club.
 
 

26 posted on 04/09/2009 4:49:49 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: Colofornian

>>many of whom he met through his Mormon church

Seems to be a pattern.

http://www.freerepublic.com/focus/news/2225800/posts?page=26#26

How much do those rungs on the “Ladder” cost, anyhow?


27 posted on 04/09/2009 4:52:56 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: BooBoo1000

LOL...

We Methodist seem to have a case of that in some areas as well...


28 posted on 04/09/2009 4:53:45 PM PDT by ejonesie22 (Stupidity has an expiration date 1-20-2013 *(Thanks Nana))
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To: Glenn
I was very impressed. Good kids. Great attitude. Convicted. Intelligent.

Convicted already? For what?
29 posted on 04/09/2009 5:22:31 PM PDT by Moltke
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To: Osage Orange

Oh, Golly Gee. Let me see, how many money-grubbing people are there who claim to be “ministers” in the protester faiths? Ever seen the TV scam TBN?

Right, you don’t claim them, do you?


30 posted on 04/09/2009 5:40:46 PM PDT by Old Mountain man (Blessed be the Peacemaker.)
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To: SENTINEL

“YOUR church leaders claim contact with GOD before making CALLINGS FROM GOD for everything including ward janitor.”


Did Christ ‘call’ Judas?


31 posted on 04/09/2009 6:06:57 PM PDT by GreyMountainReagan (Liberals do not view the book 1984 as a warning but as a textbook.)
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To: Alex Murphy
Ex-Mormon bishop . . .

This is news.

I didn't know the ex-Mormons had bishops.

32 posted on 04/09/2009 6:18:19 PM PDT by Jess Kitting
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To: Jess Kitting

Everyone needs at least one Bishop along with a few pawns.
Now it is kind of confusing was he an ex-bishop or an ex-mormon. Or was he really an ex-mormon-bishop.

This is one more thing that shows that no one’s actions hurt or help just themselves. No one is exempt from the devil’s tangled web.

As you go through life you have spiritual ups and downs, Satan gets no enjoyment from entangling a man while he is down, in fact that is when men are least likely to be tempted. So the fact that this man used to be a bishop means he was constantly being tempted by Satan and somewhere during that time allowed his material goods to come between him and his relationship with God. The rest is history.

Thank heaven he wasn’t another religion, we would never have known if he even had a religious affiliation, much less what it was. Since say he was an Ex Mormon Bishop Republican, he must have been a Democrat.


33 posted on 04/09/2009 8:38:23 PM PDT by ODDITHER
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To: Alex Murphy

This surprises me since I’ve always thought Mormons were pretty honest.


34 posted on 04/10/2009 6:41:20 AM PDT by Marysecretary (.GOD IS STILL IN CONTROL)
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To: freeplancer

ALL? I hardly think so.


35 posted on 04/10/2009 6:41:51 AM PDT by Marysecretary (.GOD IS STILL IN CONTROL)
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To: freeplancer

Sounds like YOU are the one with drunk speak.


36 posted on 04/10/2009 6:43:44 AM PDT by Marysecretary (.GOD IS STILL IN CONTROL)
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To: Glenn
"I met with a pair of LDS missionaries yesterday for an hour of conversation.
I was very impressed. Good kids. Great attitude. Convicted. Intelligent.
They are going to visit again in 2 weeks.
Bless them for putting up with my endless queries."

LOL!

The "queries" are indeed endless. It's Joe's fault; bottom line.

Hey, here's a lot of good questions to ask. :)

http://www.towertotruth.net/Mormon/witnessing/50_questions.htm

37 posted on 04/10/2009 9:55:49 PM PDT by NoRedTape
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To: SENTINEL
>>>But this story does prove that the Stake President who appointed him DID NOT receive a "Revelation from God" before he did so.

Following that logic... would also "prove" that when Jesus chose that one Apostle who sold him for 30 pieces... oh wait never mind, lets not follow your faulty logic.

38 posted on 04/13/2009 7:28:24 PM PDT by Rameumptom (Gen X= they killed 1 in 4 of us)
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