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Mormon church fined over scheme to hide $32B investment fund behind shell companies

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Tue, 21 Feb 23 8:08 PM | 43 view(s)
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Mormon church fined over scheme to hide $32B investment fund behind shell companies
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 institution failed to properly disclose its investment holdings and that it illicitly hid its investments and their management behind multiple shell companies from 1997 to 2019.


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