(close to home) Fountain Green resident, Snow College bishop accused of the largest fraud in Utah history
- Less than an hour ago, I sent out a news compilation by my friend David Cleveland that included a story about a Mormon bishop using his church connections to run a $220 million Ponzi scheme -- the largest fraud in Utah history, akin to Bernie Madoff (and the Federal Reserve, I might add...)
What I didn't notice when I sent out the email is that I know the guy. Wendell Jacobson has the big home on the north end of town in Fountain Green where my parents have lived since 1992, and where I lived for a while. We were there last night for the live nativity put on by the townfolks there (excellent, by the way).Wendell was one of the high counselors who sat in on my hearing in the Moroni Stake when I was excommunicated back in 1993.
Though I knew him, I can say I didn't gravitate toward friendly terms with him, other than general friendliness to everyone. Now I can see why I wasn't drawn to him in any way, but if anything was repulsed.My dad said Wendell is presently the bishop in a Snow College ward.
Maybe they'll promote Wendell to some position at Goldman Sachs, where he would fit in just dandy.Sterling----- Original Message -----From: preferred cableSent: Saturday, December 17, 2011 9:41 AMSubject: LDS Bishop & his son used Mormon connections to commit $220M Ponzi scheme...Pope Benedict XVI’s peace message calls for wealth redistribution...Ron Paul favorite president is Grover Cleveland...[...]
LDS Bishop & his son used Mormon connections to commit $220M Ponzi schemeFOUNTAIN GREEN, Sanpete County — FBI agents closed a prominent real estate management business here Thursday and began removing documents pertaining to the investigation of what the U.S. Securities and Exchange Commission calls a “$220 million Ponzi scheme.”The SEC claims Wendell and Allen Jacobson used their LDS Church membership to gain the trust of investors.