Strange BLOG ties McCain to investment scandal at his church-

[Bluerthanblue]

I don't know what the background is on this, but I stumbled on it looking for an entirely different refrence to Mccain.

Maybe it is nothing more than gossip- or maybe it's truth, I don't know- has anyone else heard anything about this?

.....<<<<<
Scott wrote:
I attended NPBC ( North Phoenix Baptist Church) for many years. I was very familiar with the BFA Scandal. I discussed it with John McCain who attended with his wife as well. He told me and others it was a sound investment with high returns. I had serious doubts why would a Church get into a investment scheme ? Later a fellow Member who was a CPA with The BFA informed me and other it was a big Ponzi Con. I spoke to both Pastor Dan Yeary and John McCain they insisted it was a " Good Solid " investment. I was shocked to get request to invest in the mail wondering how they got my PRIVATE address. I am a retired Federal Investigator and my address was always confidential. I called BFA who informed me my church NPBC has a deal with BFA to sell them names and addresses of it's members. I quit going to NPBC once i learned of this and knew many who lost. I have been a Christian for over 30 years still am and was ashamed to learn how NPBC and McCain duped us all in this scandal. I later while on official duty in DC again saw McCain he admitted some of the monies from his supporting BFA did go to finance his political fund. Wrong it was and still is all wrong. God is still a loving God and those at NPBC should be ashamed of what let did and allowed to happen to hundreds of it's members knowing it was all a PONZI SCAM.
Reply to this >>>>>>......

much more at:


http://blog.jasonkearney.net/2008/01/23/did-anyone-learn-anything-from-the-baptist-foundation-of-arizona-scandal.aspx

:hi:

[rosesaylavee]

1. Whoa

Cheatin' god-fearin Christian types of their hard earned cash would maybe NOT be a good thing for his campaign.

Big K & R

GREAT find!!!!

[dbackjon]

I remember the scandal well

auditors tied in with Lincoln Federal Fraud linked here as well.


McCain connected to largest non-profit collapse, largest S&L collapse, the list goes on....

[Jackpine Radical]

2. Yes, the scandal was real. DK about McCain's involvement.

It involves Arthur Andersen &, at least peripherally, Enron.

http://www.christianitytoday.com/ct/2002/april22/12.16.html

Ponzi Payback: Treachery of the Highest Order
Andersen insurer pulls plug on Baptist Foundation of Arizona settlement.
Chuck Fager | posted 4/22/2002 12:00AM

Related articles and links | 1 of 2


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http://www.billytheearlyyears.com

The giant accounting firm Andersen has backed out of an out-of-court settlement of $217 million with the Baptist Foundation of Arizona (BFA).

Attorneys for investors who lost $570 million in the church-sponsored real estate scam claim they were double-crossed and are scrambling to respond.

Sean Coffey, a former federal prosecutor who negotiated the settlement, told The Arizona Republic, "We view this as treachery of the highest order. It's unbelievable! … They just said the goals of their partners were to restore the trust in Andersen. Nice going on restoring the trust."

The Arizona Southern Baptist Convention created the BFA in 1948 to raise funds for church-related charities. Over the years, however, it mushroomed into a real estate-based Ponzi scheme that used pastors as salesmen and bilked 13,000 investors out of their savings (CT, June 11, 2001, p. 18).

"These investors, many of whom are elderly, trusted the misleading financial statements audited by Andersen," Arizona Attorney General Janet Napolitano told reporters.
Links with Enron scandal

Until its collapse in the fall of 1999, BFA hid its growing losses in dozens of shell corporations while obtaining regular favorable audit reports from Andersen. Observers have noted the similarities between this case and the fate of the Enron Corporation, another Andersen client.

[juno jones]

3. I...I did not know that...

...kickety kick.

I love this place. I learn new things all the time. Thanks

[Bluerthanblue]

4. how does mccain silence the feds?- why don't people hear about

this stuff??

Do they pay them off? Threaten?