Outside experts said that while it is not uncommon for the SEC to pursue cases with a religious angle, it was unusual to see a fine assessed against a church as large as the Mormon church, which represents roughly 1% of Americans, according to the Public Religion Research Institute.
Some attorneys cautioned that most asset managers are not encouraged to hide their investments, and the unusual arrangement could limit the potential impact of the settlement beyond this case. However, it could have implications for other religious groups or charitable organizations that might also want to play down their investment coffers for donors.
"The only likely potential developments might be additional investigations into other non-profit and charitable institutions, like universities."
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What's $5M when you're sitting on $100 Billion? And all tax free.
tax them
a church--lying? weird...
A drop in the bucket.
5 million dollars? That’s it? Really?
... but ... the drag queens!! ... talk about accuse of what you are guilty.
So…0.008% of the total value of their fraud?
Like a one penny parking ticket during a billion dollar heist.
Slap on the wrist. Not even 1% of the fraud they committed
Their entire religion is “misleading the public” to be fair…
France Dernières Nouvelles, France Actualités
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Mormon church, investment arm to pay $5 million SEC fine over reporting issuesThe Church of Jesus Christ of Latter-day Saints and its nonprofit investment arm will pay $5 million in fines and penalties to the Securities and Exchange Commission for failing to file disclosure forms, the church confirmed Tuesday.
La source: WashTimes - 🏆 235. / 63 Lire la suite »
Mormon church and investment co to pay $5 mln for misleading public -SECThe Church of Jesus Christ of Latter-day Saints (LDS) and its investment management company have agreed to pay a combined $5 million to settle charges they previously hid the church's multibillion-dollar stock portfolio from the public, the Securities and Exchange Commission announced on Tuesday. That Church has always been up to no good. Smh! When Indian Churches will pay for fooling people in broad day light. noconversion has shared millions of video where openly every illegal trick is being used on camera. Only God knows what they might be doing when camera is off. HMOIndia PMOIndia myogiadityanath AmitShah …..that’s church for you!!! …may they rot and burn 🔥
La source: Reuters - 🏆 2. / 97 Lire la suite »
Mormon Church, investment arm will pay $5 million to settle SEC chargesFederal regulators announced charges Tuesday against the Church of Jesus Christ of Latter-day Saints and its nonprofit investment arm, alleging that the money managers obscured the size of the church’s investments. Sounds like Jesus needs to start turning over some tables. Another blessed feature. l am so proud of myself for this moment. A huge appreciation to Brandonkaren11 for helping me through Bitcoin mining investment !! 5 mil is a fraction of a single percent of 32 bil. The church wont even notice that 5 mil is a joke, not a deterrent
La source: washingtonpost - 🏆 95. / 72 Lire la suite »
Mormon Church used shell companies to hide $32B in investments, SEC saysThe church and its investment management company have agreed to pay a combined $5M to settle charges they previously hid the church’s multibillion-dollar stock portfolio. Shocking, religions are corrupt? No way, next thing you will know we will learn water is wet.
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Mormon Church pays $5 million to settle accusations it covered up $32 billion investment portfolioWASHINGTON — The Mormon Church agreed Tuesday to pay $5 million to settle charges involving disclosure failures and misstated regulatory filings.
La source: WOKVNews - 🏆 247. / 63 Lire la suite »