Remember that story last month about a California Ponzi schemer who tried to escape police using an underwater scooter? Well turns out most of the people he was scamming were members of Bethel Church (you know, the church that raises people from the dead).
Here's the original story:
Piercy and his partner Kenneth Winton were specifically targeting members of Bethel Church, a controversial megachurch that is known for making outlandish promises about God enables them to heal every single illness you have, make you rich, and even raise people from the dead, even though their pastor, Bill Johnson, somehow still wears glasses.
Anyway, back to the OTHER conmen...
The 44-year-old Piercy actually attended Bethel Church, while his partner, 67-year-old Kenneth Winton described himself as a "God lover" on his Facebook page.
According to a DOJ press release which announced the charges:
"Piercey used (his two companies) Family Wealth Legacy and Zolla to solicit funds from investors using a variety of false and misleading statements, including about trading algorithms, the success of the companies' investment strategies, and the liquidity of investments."
Basically, he lied about the returns that investors would see, and when he was pressured by older investors he paid them with the money from new investors. A classic Ponzi scheme. This according to an initial court filing.
"Piercey entered a pattern of paying old investors lulling payments with new investor funds, while making various false and misleading statements, half-truths, and omissions to raise new money and to hide the constant downward financial spiral."
The Sacramento Bee said that according to a source in law enforcement, the duo specifically targeted Bethel Church members.
Wonder how that could happen at a church that emphasizes modern-day miracles and that God wants to make you rich?
What's wild is that this actually wasn't the first time that Bethel Church members were targeted by conmen. Back in 2009, another member of the church, David Souza was arrested and later sentenced to 18 years, for luring about 24 members into another Ponzi scheme that stole somewhere between $650k to nearly a million from Bethel members.
Want to know what the tagline for his business was? "Where business is moral and the miraculous is routine."
Yup.
Now, I don't want to be mean. This is awful that these people keep getting bilked. But I want to return to that question: Why does this keep happening to this church?
Well, this is what is often referred to as "affinity fraud," it's a scam that spreads in a tight-knit group (like essential oils, for example). So a church that already has a cultish us-versus-them mentality, and just a pinch of gullibility, is the perfect target.
As J.C. Derrick notes,
In this case, Bethel's theological beliefs may have also contributed: The church promotes the prosperity gospel and teaches faith healing at its School of Supernatural Ministry.
That makes sense. And just like every normal church, Bethel has an "investing policy and disclaimer" that shouldn't raise any eyebrows whatsoever.
"Although we pray for miracles in economies and investments, Bethel Church board members, leaders, and management are neither financial advisors nor investment consultants and in no way represent ourselves as such."
What, your church doesn't have something like that on their website?
It's sad that people who are already being scammed spiritually by the false health and wealth gospel are also being scammed financially as well. But I suppose that's par for the course in this movement that preys upon the needs and greeds of its congregants.
