SEC Reportedly Probes Mormon Church Over $100 Billion Investment Portfolio Allegedly Saved For ‘Second Coming Of Christ’
Sources close to the matter told the Journal the investigation is likely to lead to a settlement.
TOPLINE
The Securities Exchange Commission is investigating the Mormon Church over allegations it failed to disclose investments in a secretive $100 billion portfolio, the Wall Street Journal reported Friday, years after the church was accused of skirting tax rules and deceiving donors to build up a fund one leader purportedly suggested could be used in the "second coming of Christ.”
The church did not respond to a Forbes inquiry for comment, although the church had previously said the investment portfolio was intended as a rainy-day account.“