LDS Church fined for hiding investments from the government

[EvilEyeFleegle]

Wow! $5m fine for hiding and lying about a $32B investment fund..purportedly for the 'end-times'--LOL!

MSN

The Church of Jesus Christ of Latter-Day Saints has agreed to settle allegations that it tried to hide a huge investment fund from the government.
The Securities and Exchange Commission announced Tuesday the LDS Church, and its investment manager, agreed to pay a 5 million dollar fine - connected to the charge that the church hid an approximately 32-billion-dollar investment fund.
According to the SEC the church was concerned disclosing the fund would lead to negative consequences.
To settle the lawsuit-- the LDS Church agreed to pay one million dollars of the fine. Their investment firm - Ensign Peak Advisers - will pay the other four million dollars.
In a statement, the church acknowledged “mistakes” were made and said it now considered the matter closed.

 

[Blaster]

Wow! $5m fine for hiding and lying about a $32B investment fund..purportedly for the 'end-times'--LOL!

MSN

The Church of Jesus Christ of Latter-Day Saints has agreed to settle allegations that it tried to hide a huge investment fund from the government.
The Securities and Exchange Commission announced Tuesday the LDS Church, and its investment manager, agreed to pay a 5 million dollar fine - connected to the charge that the church hid an approximately 32-billion-dollar investment fund.
According to the SEC the church was concerned disclosing the fund would lead to negative consequences.
To settle the lawsuit-- the LDS Church agreed to pay one million dollars of the fine. Their investment firm - Ensign Peak Advisers - will pay the other four million dollars.
In a statement, the church acknowledged “mistakes” were made and said it now considered the matter closed.

Why is the government entitled to the money?

 

[Synthaholic]

Tax Religion

 

[Blaster]

Tax Religion

Less taxes mean more money to keep what you earn. The government will just spend it on non essential things.

 

[White 6]

Why is the government entitled to the money?

Even churches not allowed to fk with SEC regulations. Religion is religion, but investment management must conform to regulation, as big business is big business.

 

[Synthaholic]

Even churches not allowed to fk with SEC regulations. Religion is religion, but investment management must conform to regulation, as big business is big business.

And if religions are going to be involved in business they should be taxed as businesses.

 

[Blaster]

Does anyone really believe government is more prudent than the taxpayer on how money is spent?

 

[Blaster]

And if religions are going to be involved in business they should be taxed as businesses.

I say **** high taxes. Abolish the IRS.

 

[White 6]

And if religions are going to be involved in business they should be taxed as businesses.

On investments involving stock funds and securities. Real estate sales or ownership of a public business, I agree.

 

[JoeB131]

Wow! $5m fine for hiding and lying about a $32B investment fund..purportedly for the 'end-times'--LOL!

MSN

The Church of Jesus Christ of Latter-Day Saints has agreed to settle allegations that it tried to hide a huge investment fund from the government.
The Securities and Exchange Commission announced Tuesday the LDS Church, and its investment manager, agreed to pay a 5 million dollar fine - connected to the charge that the church hid an approximately 32-billion-dollar investment fund.
According to the SEC the church was concerned disclosing the fund would lead to negative consequences.
To settle the lawsuit-- the LDS Church agreed to pay one million dollars of the fine. Their investment firm - Ensign Peak Advisers - will pay the other four million dollars.
In a statement, the church acknowledged “mistakes” were made and said it now considered the matter closed.

Mormons doing something unethical.

Who'd have thunk it?

 

[Blaster]

Here comes the Gestapo.

 

[Harpy Eagle]

Why is the government entitled to the money?

The same reason they are entitled to part of mine

 

[Harpy Eagle]

Does anyone really believe government is more prudent than the taxpayer on how money is spent?

Nope, but I am going to pay my fair share, then so should everyone else.

I say **** high taxes. Abolish the IRS

One day when you move out of your parents house and have a real job you will understand what is being talked about

 

[Blaster]

The same reason they are entitled to part of mine

You seem to enjoy paying taxes.

 

[Blaster]

Nope, but I am going to pay my fair share, then so should everyone else.



One day when you move out of your parents house and have a real job you will understand what is being talked about

I never lived with my parents after I graduated from college but I'm going to avoid paying excessive taxes when at all possible.

 

[Tommy Tainant]

Mormons doing something unethical.

Who'd have thunk it?

Robbing their fellow citizens.

 

[Harpy Eagle]

You seem to enjoy paying taxes.

I do not enjoy it, but I do it...so everyone else should as well.

I never lived with my parents after I graduated from college but I'm going to avoid paying excessive taxes when at all possible.

Come on, who do you think you are fooling, you are not even out of high school yet

 

[1srelluc]

Is this the same scam they were pulling to build a 1.3 Billion mall and bail-out their LDS owned insurance company for a couple more billion?

It was said they were also hiding the investments from the "subjects" of the LDS church because they were afraid that they would quit tithing if they knew how much money the church was sitting on.

The SEC should do the Catholic Church next.

 

[Blaster]

I do not enjoy it, but I do it...so everyone else should as well.
Come on, who do you think you are fooling, you are not even out of high school yet

You would give up one of your gonads for the career I have.

 

[Harpy Eagle]

You would give up one of your gonads for the career I have.

Nope, I have never wanted to be a fry cook at Wendy's. But I am glad that it makes you happy