ChristianMoney.com Editor-in-Chief James Paris warns that Profitable Sunrise targets Christians by using images of Jesus and Bible verses.
“What many of these schemes do is they actually pay the current investors by bringing in new investors. I know this is a cliché, but if it sounds too good to be true, it probably is,” he told CBN News.
“When you’re looking at bank CDs paying more than 1 percent and someone is telling you that you can earn almost 2 percent in one single day and this person doesn’t have a physical office location or not providing you with a prospectus, is not a licensed investment advisor or securities dealer, these are all obvious tip-offs,” he explained.
Paris and a non-profit fraud investigation group say even pastors have fallen prey. Profitable Sunrise has allegedly collected more than $100 million from investors.