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Resource ID: #17203
Subject: Religion
Source: Business Journal (Sacramento, CA)
Affiliation: 
Date: Jan. 14

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Description

A Sacramento Business Journal investigation of the Christian Reformed Church revealed that church members nationwide were "scammed out of their retirement investments solicited by a trusted fellow church member. The funds, over a 16-year span, amounted to $180 million, which was co-mingled in 255 limited partnerships formed in an alleged 'Ponzi scheme,' which eventually collapsed in bankruptcy."

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