1732: LDS Church Fined $5 Million for Hiding Money w/ Mark Pugsley
Mormon Stories Podcast
Dr. John Dehlin
4.6 • 5.2K Ratings
🗓️ 22 February 2023
⏱️ 179 minutes
🧾️ Download transcript
Summary
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
Mark Pugsley's Law Firm
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Transcript
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| 0:00.0 | Hello everyone and welcome to another edition of Mormon Stories podcast. I'm your host for today John DeLin |
| 0:04.6 | It is February 22nd |
| 0:06.6 | 2023 and we have a breaking news story the Church of Z Christletta assates and |
| 0:12.4 | Ensign peak which we will be discussing have I guess agreed to some sort of settlement with the US government with the Securities and Exchange Commission |
| 0:21.8 | Ensign peak is gonna pay four million dollars and the Mormon Church is gonna be paying one million dollars |
| 0:25.7 | So a five million dollar settlement where the Mormon Church sort of acknowledges and is even apologized |
| 0:31.2 | It seems at a very weak way for some call it fraud some call it deception |
| 0:37.8 | But basically for trying to hide and mask its amount of |
| 0:43.5 | stock investments through Ensign peak in sort of its massive holdings of now what looks like to be hundreds of billions of dollars |
| 0:51.7 | in stocks and cash and real estate and assets etc and |
| 0:54.8 | And |
| 0:55.9 | We've been talking in the past about the whistleblower David Nielsen who used to work for Ensign peak and |
| 1:03.7 | His role in bringing to light these infractions by Ensign peak we've talked about that in the past |
| 1:09.4 | But we've never really done is a thorough discussion of all of these issues and now we've got this breaking news where the Mormon Church has |
| 1:17.2 | Admitted in effect Ron doing has been fined and has paid the fine and so with us today |
| 1:23.6 | Who is probably the top expert in the world that we could have to discuss this not just because of his day job |
| 1:30.8 | But because he actually has a direct and maybe even I'd say personal relationship with with Ensign peak whistleblower |
| 1:38.4 | David Nielsen we have back on Mormon stories podcast attorney Mark Pugsley. Hey Mark. Hey John |
| 1:44.7 | Welcome back to Mormon stories. Thanks. It's gotten a lot more technical |
| 1:49.0 | Well, we're trying to up our game every day. So I've known Mark for many many years |
| 1:55.6 | He's been on Mormon stories podcast before |
| 1:57.9 | We'll have maven make sure and include in the show notes our past episode or episodes with Mark |
... |
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