A $100 billion investment fund owned by the Church of Jesus Christ of Latter-day Saints is being investigated by the Securities and Exchange Commission, which believes the church tried to keep the massive portfolio secret, The Wall Street Journal reported late Friday.
Ensign Peak Advisors Inc., an investment management firm in Salt Lake City, is owned by the LDS Church, which is also headquartered there. The company only began disclosing its investments in SEC filings under that company name in February 2020, the newspaper said.
The LDS Church did not immediately respond to a request for comment from The Washington Times. A church spokesman told the Journal the group is “always willing to work with government regulators to resolve concerns and are committed to full compliance.” Mr. Nielsen charges ”false statements, systematic accounting fraud, private inurement, violations of the Internal Revenue Code and other federal statutes, and a ‘Klein conspiracy,’” or an attempt to defraud the federal government by frustrating the lawful functions of the IRS. A Klein conspiracy is named after a 1957 case, United States v. Klein.
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