Friend in a cult

A friend has become involved with a cult. She has spent thousands of dollars on workshops giving her various levels of “enlightenment”; yet from what I read about this “university,” it is simply a fraud, preying upon gullible people who believe enlightenment can be made into a commodity. I have tended to avoid saying what I think about this “university” because I believe in religious tolerance. Last night, though, I finally let on that I am “not in alignment” with that University. Would it be wrong of me to be more forthright, and state that I think they are an outright fraud? Am I being TOO tolerant by withholding the full extent of my views in order to avoid hurting her feelings?