Go Back   DreamTeamDownloads1, FTP Help, Movies, Bollywood, Applications, etc. & Mature Sex Forum, Rapidshare, Filefactory, Freakshare, Rapidgator, Turbobit, & More MULTI Filehosts > World News/Sport/Weather > Other Interesting News

Other Interesting News Other News That is Not on World Events

IMPORTANT ANNOUNCEMENT
Hallo to All Members. As you can see we regularly Upgrade our Servers, (Sorry for any Downtime during this). We also have added more Forums to help you with many things and for you to enjoy. We now need you to help us to keep this site up and running. This site works at a loss every month and we appeal to you to donate what you can. If you would like to help us, then please just send a message to any Member of Staff for info on how to do this,,,, & Thank You for Being Members of this site.
Post New ThreadReply
 
LinkBack Thread Tools Display Modes
Old 22-02-23, 08:46   #1
 
Ladybbird's Avatar
 
Join Date: Feb 2011
Posts: 47,363
Thanks: 27,593
Thanked 14,456 Times in 10,262 Posts
Ladybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond reputeLadybbird has a reputation beyond repute

Awards Showcase
Best Admin Best Admin Gold Medal Gold Medal 
Total Awards: 8

Movies Mormon Church Fined Over Hiding $32bn of Investments

Mormon Church Fined Over Claim it Hid $32bn of Investments

The Mormon Church, officially known as the Church of Jesus Christ of Latter-day Saints (LDS), and its investment firm will pay out $5m (£4.1m) over claims they hid a huge cache of shares.


BBC 22 FEB





The LDS and its investment firm, Ensign Peak Advisers, used "shell" companies to hide a $32bn stock portfolio, the US Securities and Exchange Commission (SEC) said.

Ensign Peak will pay a $4m penalty and the Church will pay $1m.

Neither has admitted any wrongdoing.



"We allege that the LDS church's investment manager, with the church's knowledge, went to great lengths to avoid disclosing the church's investments, depriving the commission and the investing public of accurate market information," Gurbir Grewal, director of the SEC's division of enforcement, said in a statement.

The financial markets watchdog said the Church and Ensign Peak had used shell companies to conceal growing investments in shares, which had reached more than $30bn in 2018, over fears that it could lead to negative publicity.

The SEC's announcement provided a rare insight into how Ensign Peak allegedly sought to hide a significant part of the Mormon Church's investments.

The Salt Lake City-based adviser, which was founded by the LDS in 1997, created 13 shell companies with locations throughout the US, the regulator said.

Between 1997 and 2019, the shell companies, rather than Ensign Peak, filed quarterly investment disclosures with the SEC, it added.

A shell company is an entity that does not have any active business operations. These types of companies can be used to disguise business ownership from regulators or the public.

The Church has more than 16 million members in more than 30,000 congregations across 160 countries.

Ensign Peak is thought to manage a total of at least $100bn on behalf of the Mormon Church.


RELATED

__________________
PUTIN TRUMP & Netanyahu Will Meet in HELL










TRUMP WARNS; 'There'll Be a Bloodbath If I Don't Get Elected'


PLEASE HELP THIS SITE..Click DONATE
& Thanks to ALL Members of ... 1..

THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES
Ladybbird is online now  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
Reply With Quote
Post New ThreadReply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO 3.5.2
Designed by: vBSkinworks