The Mormon Church settles allegations it hid $32 billion in investments. A top exec said the church was worried its staggering wealth would cause members to stop donating.
The Mormon Church agreed to settled allegations it tried to hide $34 billion in investment assets — a move a top executive said was done in part because the church was worried members wouldn't donate if they realized how rich it was.
According to the SEC, the church and Ensign Peak"went to great lengths to avoid disclosing the Church's investments, depriving the Commission and the investing public of accurate market information."According to a 2020 story in the The Wall Street Journal Roger Clarke, the head of Ensign Peak Advisors, told the Journal that church leaders were concerned that knowledge of the fund would discourage regular donations from its members known as tithes.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
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.
Leer más »
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.
Leer más »
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.
Leer más »
Mormon Church pays $5 million to settle accusations it covered up $32 billion investment portfolioThe Mormon Church agreed Tuesday to pay $5 million to settle charges involving disclosure failures and misstated regulatory filings.
Leer más »
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.
Leer más »
Mormon church fined $5M for obscuring size of portfolioThe 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 the portfolio under church control, the U.S. Securities and Exchange Commission announced.
Leer más »