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Thursday, June 05, 2008
Like taking candy from a Christian. If Republicans have proven anything in the last several years it's this: When you want to steal on an epic scale, pretend you're religious. Here's another example (
Investment News):
A rep affiliated with LPL Financial allegedly stole $5 million from about two dozen people he knew from church and Little League.

The adviser, James J. Buchanan, has been charged with one count of fraud and 14 counts of theft, according to an indictment filed May 12 with the Maricopa (Ariz.) County Superior Court.

Each of those are felony counts.

Mr. Buchanan, who is being held in lieu of a $1 million cash bond, joined LPL of Boston in 2006.

Before that, he was affiliated with Ameriprise Financial Inc. of Minneapolis.

The alleged fraud and theft has been going on since 2001 through April, when he was fired by LPL, according to the indictment.

Maricopa County includes Phoenix and Scottsdale and the surrounding suburbs.

Investigators believe there are numerous victims and an unknown amount of damages.

Court documents paint a picture of Mr. Buchanan committing affinity fraud, a scam that preys upon members of an identifiable group, such as a religious community.

He posed as a certified financial planner, persuading many elderly clients to invest their life savings with him.

The alleged fraud began to unravel in March, when one victim reported to the Maricopa County sheriff that she had been defrauded of $200,000 after Mr. Buchanan pleaded with her to keep quiet, court documents show.

Most of the victims reported that they invested with money with Buchanan because he was revered as an honest Christian man,” said an addendum to the case filing.

“Buchanan was a board member with his church, and offered help to many people in his membership.”

Some of the investors’ money went into Mr. Buchanan’s personal bank account, the addendum said.

Mr. Buchanan also allegedly stole $1 million from his church, the Christ Life Church of Tempe, Ariz.

One victim was a retired police officer who Mr. Buchanan talked into taking early retirement based upon the returns he promised the officer would realize on his investment.
In the investment world we have observed smooth-talking Christian thieves before, notably Leo Wells of Wells Real Estate and Wells REIT. Showy Christians distract you with great displays of their high-toned morality for one purpose: to get their hands on your wallet.

If my financial advisor or banker made a big show of his Christianity, I would withdraw my funds immediately.
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Greatest Hits · Alternatives to First Command Financial Planning · First Command, last resort, Part 3 · Part 2 · Part 1 · Stealing $50K from a widow: Wells Real Estate · Leo Wells, REITs and divine wealth · Sex-crazed Red State teenagers · What I hate: a manifesto · Spawn of Darleen Druyun · All-American high school sex party · Why is Ken Lay smiling? · Poppy's Enron birthday party · The Saudi money laundry and the president's uncle · The sentence of Enron's John Forney · The holiness of Neil Bush's marriage · The Silence of Cheney: a poem · South Park Christians · Capitalist against Bush: Warren Buffett · Fastow childen vs. Enron children · Give your prescription money to your old boss · Neil Bush, hard-working matchmaker · Republicans against fetuses and pregnant women · Emboldened Ken Lay · Faith-based jails · Please die for me so I can skip your funeral · A brief illustrated history of the Republican Party · Nancy Victory · Soldiers become accountants · Beware the Merrill Lynch mob · Darleen Druyun's $5.7 billion surprise · First responder funding · Hoovering the country · First Command fifty percent load · Ken Lay and the Atkins diet · Halliburton WMD · Leave no CEO behind · August in Crawford · Elaine Pagels · Profitable slave labor at Halliburton · Tom Hanks + Mujahideen · Sharon & Neilsie Bush · One weekend a month, or eternity · Is the US pumping Iraqi oil to Kuwait? · Cheney's war · Seth Glickenhaus: Capitalist against Bush · Martha's blow job · Mark Belnick: Tyco Catholic nut · Cheney's deferred Halliburton compensation · Jeb sucks sugar cane · Poindexter & LifeLog · American Family Association panic · Riley Bechtel and the crony economy · The Book of Sharon (Bush) · The Art of Enron · Plunder convention · Waiting in Kuwait: Jay Garner · What's an Army private worth? · Barbara Bodine, Queen of Baghdad · Sneaky bastards at Halliburton · Golf course and barbecue military strategy · Enron at large · Recent astroturf · Cracker Chic 2 · No business like war business · Big Brother · Martha Stewart vs. Thomas White · Roger Kimball, disappointed Republican poetry fan · Cheney, Lay, Afghanistan · Terry Lynn Barton, crimes of burning · Feasting at the Cheney trough · Who would Jesus indict? · Return of the Carlyle Group · Duct tape is for little people · GOP and bad medicine · Sears Tower vs Mt Rushmore · Scared Christians · Crooked playing field · John O'Neill: The man who knew · Back to the top






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