The Church of Jesus Christ of Latter-day Saints 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, theThe markets watchdog said the church and its nonprofit investment company, Ensign Peak Advisers Inc., used shell companies to mask its growing investments in public companies, which reached $32 billion in 2018, due to concerns of negative publicity.
The use of shell companies came to light in 2019, when a former employee of Ensign Peak filed a whistleblower complaint. The Church of Jesus Christ of Latter-day Saints and Ensign Peak Advisers Inc., used shell companies to mask its growing investments, the SEC charged.The use of shell companies came to light in 2019, when a former employee of Ensign Peak filed a whistleblower complaint.From 1997 through 2019, those shell companies filed the mandatory forms detailing the investments and improperly claimed to operate independently.
“We affirm our commitment to comply with the law, regret mistakes made, and now consider this matter closed,” the church said.“We allege that the LDS Church’s investment manager, with the Church’s knowledge, went to great lengths to avoid disclosing the Church’s investments, depriving the Commission and the investing public of accurate market information,” said Gurbir Grewal, director of the SEC’s Division of Enforcement in a statement.
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Shocking, religions are corrupt? No way, next thing you will know we will learn water is wet.
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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.
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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 🔥
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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
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Feds fine Mormon church for illicitly hiding $32 billion investment fund behind shell companiesNEW: The Church of Jesus Christ of Latter Day Saints and a nonprofit entity that it controlled have been fined $5 million by the SEC over accusations that the religious institution failed to properly disclose a multibillion-dollar investment fund. The SEC accused the church of going to “great lengths” to avoid disclosing its investments and, in doing so, “depriving the commission and the investing public of accurate market information.” BeSeriousUSA Wow that 5 mil is really gonna hurt😒 Mormonism Is A Cult
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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.
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