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On February 21, 2023, the United States Securities and Exchange Commission (SEC) charged the Church of Jesus Christ of Latter-day Saints (LDS Church) and its non-profit investment arm, Ensign Peak Advisors (EP), for failing to disclose the LDS Church's investments, and instead creating shell companies whose purpose was to obscure the church's portfolio.
In 2019, a former EP employee made a whistleblower report to the IRS alleging that the church held over $100 billion of assets in a large investment fund. [47] The whistleblower further alleged that the church-operated fund failed to use its revenues for charitable purposes and instead used them in for-profit ventures; and that it misled ...
The Church of Jesus Christ of Latter-day Saints and a nonprofit entity that it controlled have been fined $5 million by the Securities and Exchange Commission over accusations that the religious ...
The Church of Jesus Christ of Latter-day Saints defended Tuesday how it uses and invests member donations after a former church employee charged in a complaint to the Internal Revenue Service that ...
Ensign Peak Advisors (/ ˈ ɛ n s aɪ n / EN-syne) [3] (EP) is the investment manager for assets of the Church of Jesus Christ of Latter-day Saints (LDS Church). [4]In 1997, the investment division of the LDS Church was spun off into a separate legal entity named after Ensign Peak, a hill that overlooks Salt Lake City. [4]
The investment arm of the Mormon church revealed its stock holdings in a 13F filing last week. The church has amassed a portfolio of individual stocks worth $55 billion. A top AI stock is a new ...
The company had lent out $8 billion to clients and had almost $12 billion in assets under management as of May 2022, [181] up from $1.2 billion in loans and $200 million AUM reported in 2019. [182] Days prior, former investment manager Jason Stone sued Celsius, alleging that the company ran a Ponzi scheme. [180]
The U.S. Small Business Administration inspector general estimates $136 billion in fraud from the EIDL and $64 billion in fraud from the PPP. For FPUC, the U.S. government Accountability Office ...