MLM to Apostle

This is for encouragement, ideas, and support for people going through a faith transition no matter where you hope to end up. This is also the place to laugh, cry, and love together.
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moksha
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Joined: Tue Oct 18, 2016 4:22 am

MLM to Apostle

Post by moksha » Sat Jan 02, 2021 11:59 pm

Memorial Estates Security Corporation
In August 1960 Bruce R. McConkie, along with several other businessmen (including J. Thomas Fyans, a general authority of The Church of Jesus Christ of Latter-day Saints), formed the Memorial Estates Security Corporation (MESC), with a stated purpose of constructing memorial parks for deceased "loved ones". McConkie became its Vice President. By September of 1964, the company was failing, and in November, MESC filed for bankruptcy.[9] McConkie, along with fourteen other MESC officials were sued by 270 stockholders and bondholders of the company, accusing the company of prominently displaying LDS Church affiliation to imply endorsement in initial sales pitches. The suit also accused the company of failing to register as an investment company with the U.S. Securities and Exchange Commission as required by law.[10]

In a questionnaire sent to all investors, it was found that two-thirds of all investors were elderly (ages 60-75), who had invested fifteen times as much as persons thirty years and under and four times as much as those in middle age. When asked why they contributed to the company, close to half mentioned trust in McConkie or other LDS Church leaders specifically. Further investigation showed that the company had failed to pay dividends long before its collapse, and failed to inform investors of its insolvency. The case was settled out of court on April 25, 1969, three days before going before a jury trial.[10]
This was before Elders McConkie and Fyans became an Apostle and President of the First Quorum of the Seventy. So if any boys out there have religious ambitions, first practice to deceive.
Good faith does not require evidence, but it also does not turn a blind eye to that evidence. Otherwise, it becomes misplaced faith.
-- Moksha

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Palerider
Posts: 1887
Joined: Fri Nov 25, 2016 8:44 am

Re: MLM to Apostle

Post by Palerider » Sun Jan 03, 2021 10:08 am

I'm sure if McConkie were alive to defend himself he would have a perfectly good explanation for this issue that would show his part to have been one of complete innocence and that he himself was a victim of the fiasco.

His great uncle Joe was equally as good at spin.
"There is but one straight course, and that is to seek truth and pursue it steadily."

"Truth will ultimately prevail where there is pains to bring it to light."

George Washington

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græy
Posts: 1053
Joined: Tue Nov 29, 2016 2:52 pm
Location: Central TX

Re: MLM to Apostle

Post by græy » Sun Jan 03, 2021 3:08 pm

Just doing what Joseph did. Seek for personal gain by committing light fraud before finally realizing that leading a religion is the best way to get power.
I'm better than dirt... well most dirt. Not that fancy store bought stuff, I can't compete with that... full of nutrients and everything. -Moe Sizlack

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