The SEC alleges that senior leaders of the Church of Jesus Christ of Latter-day Saints approved shell companies to hide $32 billion in holdings from the public.
earlier this month that the SEC was investigating whether the church's holdings were properly disclosed, the focus was on Ensign Peak Advisors, an investment firm owned by the church.The latest:
The shell companies were created "with the Church's knowledge and approval," to avoid "negative consequences in light of the size of the Church's portfolio," the SECThe church is paying a fine of $1 million while Ensign Peak pays $4 million under a settlement with the SEC.
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