Shawn Merriman – UNDISCLOSED NET WORTH – $21 MILLION – THE MORMON MADDOFF FRAUD (PONZI SCHEME INVESTMENT SCAM)

Shawn Merriman was formerly the head of an investment firm and a lay bishop at the Mormon church for many years before getting exposed as a fraud. The smooth-talking demeanor that Shawn had was what enabled him to con friends, family, and church members for 15 years. Known as The Mormon Maddoff case, it was one of the most lucrative uses of the Ponzi scheme in history.

Shawn deceived a total of 68 investors, which comprised mainly of church members, friends, and then finally, his own family. As a result of abusing his position as a Bishop, Shawn encouraged other Mormons to invest as well. The enticing proposals and possibility of making big bucks from the firm was too much to refuse and investors eventually gave in. After the great recession struck the economy, Shawn’s crime was brought to light and justice was served.