An affinity scam, in which a trusted Bible teacher allegedly bilked the faithful out of hundreds of thousands of dollars, has landed a 55-year old Kentucky man in jail. Police arrested Ralph Broussard, charging him with 24 counts of theft and fraud.
Louisville police say Broussard told members of the citys Mt. Calvary Baptist Church that he was a financial planner, and could get 12 to 25 percent returns on their money. Many members reportedly put up their life savings.
The alleged scheme began to unravel when one worried parishioner went to police. She was shocked to learn that she was one of about eight church members who had already lodged complaints.
Police say they have been unable to determine what exactly happened to the money, but they called it a classic affinity scam. Thats a situation where the scammer professes to share a belief, or set of circumstances, with the victims and earns their trust.
