Cdex, Inc. (fka CDEX)

[d4diddy]

PHOENIX - The final defendant has pleaded guilty in a fraud case linked to the collapse of the Baptist Foundation of Arizona...

The foundation, which was created in 1948 as a nonprofit religious entity to raise money for Southern Baptist causes, collapsed in 1999 in what was then the largest nonprofit bankruptcy filing in U.S. history.

About 11,000 mostly elderly investors lost almost $600 million as a result.

http://www.gmanews.tv/story/14807/Baptist-foundation-leader-pleads-guilty-in-US-fraud-case

http://moneycentral.msn.com/articles/retire/basics/7745.asp


AFFINITY FRAUD:

How To Avoid Investment Scams That Target Groups
What is an Affinity Fraud?

Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing those people that a fraudulent investment is legitimate and worthwhile. Many times, those leaders become unwitting victims of the fraudster's ruse.


http://www.sec.gov/investor/pubs/affinity.htm