SEC Charges Mormon Church for Hiding Its $32 Billion Investment Portfolio

The US Securities and Exchange Commission (SEC) has charged the Mormon Church for its $32 billion secret investment portfolio. Specifically, the charges are surrounding the church’s failure to “file forms that would have disclosed the Church’s equity investments,” according to the press release.

The charges are aimed at “The Church of Jesus Christ of Latter-day Saints and its investment management company,” according to the regulator. Moreover, the statement notes that the investment management firm, Ensign Peak Advisors, and the church have agreed to settlements.