Is the Mormon Church honest in all of its dealings? The Securities and Exchange Commission announced charges against The Church of Jesus Christ of Latter-day Saints for obscuring the Church’s money and misstating Ensign Peak’s control over the Church’s investment decisions. To settle the charges, Ensign Peak agreed to pay a $4 million penalty and the Church agreed to pay a $1 million penalty.
SEC Order Against Ensign Peak Advisors & The Church of Jesus Christ of Latter-day Saints
If people want to help they can call the Senate finance committee and urge them to take action and have a hearing on this issue.
Senate Finance Committee phone: 202-224-4515
Senate Finance Committee fax: 202-228-0554
Religion Unplugged article with full Senate Finance Committee memo:
Whistleblower Details New Allegations About $100 Billion LDS Fund
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There is a Petition for Financial Transparency
I don’t believe you guys addressed this but let me connect some dots for you.
How does revelation occur with the upper Church leadership? Consensus. Unanimity.
Thus, we can conclude that because the first presidency unanimously agreed to do these things, the first presidency received revelation to break the law.
I would like to see the important wording Mark used about “Top Leadership” in the short synopsis about this episode. Thanks, Keep doing what Senator John Lewis said “Make Good Trouble”
You asked why they aren’t prosecuting the fund managers.
1. It’s possible that they are. The SEC lacks criminal jurisdiction and would have to turn it over to the Dept of justice. In the meantime, the SEC wrapped up its enforcement action against the church.
2. It’s also possible that the church agreed to settle in exchange for the SEC not pursuing the fund managers. The SEC may well have been happy to get the win and not go after dupe church employees.
Speaking of 12 LLCs and 12 apostles. I heard that 2000 yrs ago Mary went in the bathroom and asked “Who left the seat up?” not knowing Jesus just came of there. ,😁
Somebody should go to jail. Where does the “Buck Stop”?
I just called the Senate Finance committee phone number. A nice lady picked up. We had a short chat. All the personal information she wanted was my zip code. Easy Peasy.
Perfection they are not. Maybe the Mormon membership will tamper down the worship of them. Nah!
I posted this on Mormon Stories as well. I am a social worker working in a community mental health agency in Utah. This means I work with those people who are struggling financially enough that they qualify for Medicaid insurance. In the twenty plus years I have done this work I have heard time and again my clients report that they went to their bishop for help with rent, utilities, even food and have been turned away. Sometimes someone gets a good bishop who will offer some help, but for the most part they are declined. My clients have reported in the last several years that when they went to their bishop for assistance they were told they have to take financial responsibility classes through the church in order to get any help, even for their basic necessities. Then came a report a couple of years ago that the State of Utah is able to use Federal money, earmarked for low income programs, for other things because we have the Church in the state that says they help the poor. So now the most in need people in Utah can’t get as much help from the State and they are getting little to no help from the Church. After listening to this podcast and others this weekend, it dawned on me that there is another ugly layer to this. If the money they are using for these funds is money from the interest on tithing, they have an additional incentive to not use tithing money to help the poor and needy. The less they use of the tithing for these purposes, the more “excess” funds they have to transfer over to investment firms such as Ensign Peak. I sense this is much more deliberate than even this SEC report shows.
The numbers are astronomical. It occurs to me that the church has enough to give all 16 or 17 million of the members they claim one million dollars each with barely a hiccup to the Ensign Peak portfolio. That’s one million to every man, woman and child they claim as a member leaving them with a measly 99,983,000,000 still in the horde.
Well……No. 100 billion divided by 17 million is $5882 per member. The membership could only be 100,000 members to each receive 1 millions dollars
This is dismaying to hear – after religiously paying my tithing on my gross income AND child support payments as a single mom, I’m terribly disappointed to hear that my hard-earned tithing payments, provided at great sacrifice to myself and my children, have been invested instead of being put to the kinds of uses I imagine Jesus Christ himself would want to see. Eliminating child poverty, illness, human/sex trafficking, domestic abuse…basically these billions of dollars could be going to make substantial inroads into solving the world’s worst problems. I don’t get it. I’m seriously considering directing my tithing to a local charity that I know is helping real people in need in my area instead of paying tithing. I realize my temple recommend is likely to be taken away if I do this.