The religious organization hoarded $32 billion worth of investments before an investment manager blew the whistle The Mormon Church and its investment manager will pay $5 million in fines to the US government after stashing billions of dollars’ worth of assets in shell companies, obfuscating their ownership. The US Securities and Exchange Commission (SEC) announced on Tuesday that it had charged Ensign Peak Advisors for the firm’s handling of investments on behalf of the Church of Jesus Christ of Latter-day Saints (LDS Church) – colloquially known as the Mormon Church. The company failed to correctly report the eq
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