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Mormon church fined $5M for obscuring size of portfolio

Por: WPLG Local 10 Politics February 22, 2023

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SALT LAKE CITY – The Church of Jesus Christ of Latter-day Saints and its investment arm have been fined $5 million for using shell companies to obscure the size of the portfolio under church control, the U.S. Securities and Exchange Commission announced Tuesday.The faith, widely known as the Mormon church, maintains billions of dollars of investments in stocks, bonds, real estate and agriculture. Much of its portfolio is controlled by Ensign... + full article



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