Tuesday, February 08, 2005
Obviously, This Guy Wants to Go Straight to Hell
Scam artists may be the lowest form of life, but what do you call someone who scams churches? Abraham Kennard stole $9 million from some 1,600 small churches by promising them substantial returns for minor investments. Kennard would give money obtained from new investors as a return for earlier investors--a typical Ponzi scheme. Acting as his own defense, Kennard said in his opening remarks, "It's not a law against riding in a Cadillac if you don't want to ride in a Volkswagen." It's also not against the law to send someone to jail when he would rather stay on the outside and drive his Cadillac. Source
