Secretary of State Matt Blunt is joining with securities officials throughout the country to warn about a growing investment scam – taking advantage of a person’s religious beliefs. Three big cases: Greater Ministries International Church, the Baptist Foundation of Arizona, and the IRM Corporation bilked people out of $1.5-billion. Blunt says such schemes have bilked Missourians out of more than $3-million and he worries the number of scams is growing. In many cases, the phony investors approach elderly, religious people – sometimes even praying with them – promising their divinely inspired investments would create incredible returns. The victims often emptied their savings accounts. Blunt is asking people with concerns about possible investment scams to call the Missouri Investor Hotline at 1-800-721-7996.
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