11/25/2023
You've heard of the 12 tribes of Israel, but have you heard of the 13 shell companies of Zion?
On 2/21/23, the Securities and Exchange Commission announced charges against the Mormon Church and its investment arm, Ensign Peak, for obscuring the church's stock portfolio over 22 years, from 1997 to 2019.
The church filed forms for 13 separate shell companies rather than disclose their equity investments. An act which, according to the SEC press release, "obscured the Church's portfolio and misstated Ensign Peak's control over the Church's investment decisions".
The press release states "the Church was concerned that disclosure of its portfolio, which by 2018 grew to approximately $32 billion, would lead to negative consequences."
Negative consequences like members deciding to not pay tithing before feeding their families?
Negative consequences like bad press? Hmmm, if only a prophet, seer, and revelator could have predicted the bad press from committing securities fraud...
The press release goes on: "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[.]"
So much for the 9th commandment. Thou shalt not bear false witness?
So much for the Mormon Church's 12th article of faith, too: "We believe in being subject to kings, presidents, rulers, and magistrates, in obeying, honoring, and sustaining the law." 😏
Maybe the next time a Mormon bishop asks a teen for explicit details of their naughty deeds, the kid should filter their answer through 13 fibs.
Maybe the next time a Mormon mom faces the prospect of being barred from her son's wedding because she's not caught up on her tithing, she should tell her bishop she doesn't have to give him honest information because doing so "would lead to negative consequences."
What's sauce for the goose is sauce for the gander, right?
Hope you enjoy this newest candle in our Christmas lineup! 😜😁🎄 Happy holidays!!!
❤️💚 Jen + Adri + Gus
LABEL IDEA:
(my bro 🤗)
Idea to put stocks as an ingredient: