They trusted him because of his Christian credentials

[NNN0LHI]

http://www.suntimes.com/news/metro/563853,CST-NWS-invest19a.article

'No risk' pitch cost me dearly, ex-Marine says

September 19, 2007

BY MARY WISNIEWSKI

Staff Reporter/[e-mail]

Melvin Peich is an ex-Marine who still runs marathons at age 84. His mind is as sharp and clear as a new picture window. He seems like nobody's fool.

So Peich was skeptical when Roderick J. Rieman, a west suburban financial adviser, told him he could make 9 percent interest with no risk on an investment. This was in 2003, when CDs weren't even getting 5 percent.

"I said 'Are you sure?'" said Peich, of Plainfield, who like many investors wanted to recoup money lost with the bursting of the tech bubble. "He said there's no risk."

Peich is among more than a dozen west suburban investors who claim they lost millions of dollars to investments recommended by Rieman, who is now banned from selling securities in Illinois. snip

Those who haven't lost money to bad investments or fraud may wonder how a smart person can be fooled into believing something too good to be true. Peich and other local investors say they trusted Rieman, either because of references or because of his Christian credentials.


http://www.suntimes.com/news/metro/563831,CST-NWS-invest19.article

'He hurt a lot of people'

CON MAN OR VICTIM? | St. Charles man found investors at his church; they lost millions

September 19, 2007

BY MARY WISNIEWSKI Staff Reporter

"He portrayed himself as a very big Christian."

"He pointed out that he was an elder in the church."

"Because he came to the church and used references of people I trusted, I trusted him."

That's how west suburban investors talk about Roderick J. Rieman, a St. Charles investment adviser. Rieman used his church activity as a character reference, and would end a business letter with "God bless."

But God was apparently not on Rieman's side when it came to making money for clients.

[tularetom]

1. Oh well

I'd never invest money with someone who "portrayed himself as a very big christain".

Maybe a small or average sized christian, ok. Very big, uh-uh.

Caveat emptor.....

[Name removed]

2. Deleted message

Message removed by moderator. Click here to review the message board rules.

[ossman]

3. Or transferred to fuck more little boys somewhere else.

[pansypoo53219]

4. doesn't the bible

say things about money?