Christian Finance Guru Hit With $150 Million Fraud Suit

June 2, 2023 Business, Christianists

Religion News Service reports:

A group of former followers of Dave Ramsey has sued the Christian finance guru and radio host, along with his company and a marketing firm, for endorsing a failed timeshare exit company that allegedly defrauded customers out of millions.

Seventeen former Ramsey listeners filed a class-action lawsuit in the U.S. District Court for Western Washington alleging Ramsey was paid as much as $30 million from 2015 to 2021 to endorse Timeshare Exit Team, a Kirkland, Washington-based firm that collected $200 million from clients — many of them Ramsey listeners — in exchange for a promise to free them from their timeshare obligations.

But the company, which often collected more than $5,000 per customer, failed to live up to its promises. In 2021, Reed Hein & Associates LLC, which did business as Timeshare Exit Team, paid $2.61 million to settle a deceptive business practices lawsuit filed by the attorney general of Washington state and later went out of business.

Read the full article. There’s a lot more.

Ramsey last appeared on JMG in December 2021 when a former employee sued him after he was allegedly fired for refusing to join in a workplace effort to “pray away” the COVID pandemic, instead “putting his faith in science.”

Before that, he appeared on JMG in March 2021 when it was reported that he fired over a dozen employees for having premarital sex.

We heard from him again in 2021 when he declared that if a $600 stimulus check was likely to change your life, your life was already fucked up to begin with.

Ramsey has also made news for pulling a gun during a company meeting. He once hosted a Fox News show and still appears there regularly as a financial expert.



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