The Church of Jesus Christ of Latter-day Saints and its investment arm have been fined $5 million for using shell companies to obscure the size of its $32 billion portfolio, which was under church control, the U.S. Securities and Exchange Commission announced Tuesday.
The Mormon church"went to great lengths to avoid disclosing the Church's investments," Grewal said in the The church has agreed to pay $1 million and Ensign Peak will pay $4 million in penalties based on the violation. In 2019, a whistleblower alleged the church had stockpiled nearly $100 billion in funds, rather than directing it toward charitable causes. Ensign Peak has since been a source of intrigue and mystery for the nearly 17-million member Utah-based faith, which encourages members worldwide to give 10% of their income in a practice known as"tithing."
Something is never right when religion acquires a fortune.
Has the SEC gone far back enough, it could be they investigating the Church of The Latter Day Payments.
Tax churches
...its a cult
For perspective that’s 0.015% of their portfolio or $8 if your a normal person making $50,000 a year.
That’s utterly disgraceful
Chump change
Religions. Senseless and foul. They should all be taxed.
Oh ouch. Stub their toes.
With churches raking in absurd amounts of money, perhaps the US should tax them like everyone else.
Tax churches of all kinds and billionaires and large companies
Fine them 5 BILLION
Think of this, they pay cash for their buildings operate within their budgets and have surplus for a rainy day. Maybe we should have them teach our law makers their secret.
It really IS time to start taxing the churches, just like we do any other for profit businesses.
Not a very big fine.
That is a 0.0015% fine.... And we wonder why people keep doing this shit. The fines are a joke. There are no real consequences for the ultra wealthy.
The churches should tell them law makers and even their highest courts to go straight to hell! There's supposed to be a separation of church and state. The churches need to expell the state and disassociate themselves from the government and it's authority. Pay no more respect!
$32 BILLION for Jesus.
A “church” that has accumulated $32B and practices deceit is a greedy corporation and needs to be paying taxes. MormonChurch Mormons
Keep giving your hard earned $$, sheeple. WWJD
Tax The Churches!
Time to tax all churches
If churches can invest then churches can be taxed.
They conveniently forgot about Jesus flipping tables.
Wow, God wouldn’t like this
Cult
Cool. Now do Biden.
They also trafficking kids ppl over look the danger these ppl cause
TAX THE CHURCHES
Kenneth Copeland should be next.
How's that not theft by deception? Church says one thing and does another? Phew...
Tax the churches
Good god,just looking at the church screams red flags
So did any of them 15 'profits', seers and revelators see this coming?
It's a business not a church
A 'Church' has 32 $Billion dollars in it's coffers, while half of America is starving! Disgusting!
Tax the churches. They already have representation.
All churches should be 'required' to help everybody that's under the poverty level!
Mitt Romney help them hide the money?
Performative
.016% fine 👌 😩
This, along with Joel Osteen and all the other Mega churches is reason to abolish the no tax rule for churches. Allow a deduction for funds used to help poor and tax the rest.
$5M fine for an organization that has $32B lmao
TaxTheChurches jfc😒
Tax the churches.
Make all the churches pay taxes!
6000:1 return Pretty sweet gig and no one goes to prison
♥️
I just bet there are a lot of other churches doing the same. Let's take away the tax exemption and reduce the debt!
Lot of poop hole loop hole-in Lots of businesses to funnel money Lots of expansion Lots of money ..... Sounds like a corporation that needs taxed 😆
Churches must pay taxes like all businesses.
LDS is just a tax scheme and most adults in the church know. That being said at least they aren't molesting boys by the hundreds of thousands. 😆
MariaBruno01 Tax the churches. They are big business.
Tax the churches ⛪️
But they have no money to pay for the priests molesting kids?
Wait but if you love god and he loves you why in the world would you need any money? Or could be they save all that money from not buying beer or packs of cigarettes? I mean cigarettes are closed to $20 and beer $10
That money was about to be donated to St. Jude's and now it won't be
Tax them all and make value given to them tax relief for the donors
$5 million to help hide billions. What a slap on the wrist fine.
lyyved Oh boy
TAX THE CHURCHES ALREADY!
Ah yes, the Mormons having billions. Now do the rest. I bet they all have massive piggy banks in the walls.
Tax the churches!
Tax churches. All businesses pay property taxes yet religious institutions don't. Religion is a scam..Jesus would be appalled
trust me is more than that
well when the world ends I know who to sign up with to survive the apocalypse. 32 billion...how much does the catholic church hold in billions I wonder.
Can we just tax these f errs already
TAX CHURCHES
Tax their asses into oblivion.
Now do Jive Joel Osteen. How many $$ has he saved. Oops I meant souls.
Tax. The. Damn. Churches.
TaxTheChurches
Nothing Jesus of Nazareth like activités going on around here.
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