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Mormon Corporate Corruption: Mormonism LIVE: 138

RFM and Bill Reel are joined by Spencer who shares the latest from the Widows Mite Report ( and share their latest reveal calling into question the perception that the Deseret Mutual Benefit Administration (DMBA) was at the same time Ensign Peak was being investigated, allegedly doing the same funny business as Ensign Peak was in not filing 13F forms disclosing investment assets. Spencer runs us through the data and informs us that an anonymous person has filed complaints with the SEC. He shows that Beneficial Life may have also been doing the same thing. We are informed that a familiar face was on the board of DMBA and we also learn about “Plan Z”. While the Church has considered the SEC escapade closed, it appears that these prophets may not have seen around corners.

Widow’s Mite Report on the DMBA –

LDS Charities Report showing Roger Clarke on the board –

SEC Report –

Church’s official Response to previous infraction –

Mormonism Live covering the SEC scandal –


7 thoughts on “Mormon Corporate Corruption: Mormonism LIVE: 138”

  1. rfm pretends to give the church the “benefit of doubt” but he argues against the church with formulations like “the odds are against..”.
    One should ask what could be the profit of hiding the DMBA assets before lifting the DMBA case to the same level as the EP case.
    Finally (2:09) rfm says that he received the second anointing.

    1. What, indeed, would be the benefit of DMBA not filing 13F? The answer is plainly obvious. If DMBA filed a 13F, people would see it and begin asking questions about the church’s other stock holdings. Questions beget more questions. The thing about one lie is the many other lies that have to be told to keep the first one going. What you seem unable to see is that Ensign Peak was just the tip of the iceberg – a pattern of institutionalized lawbreaking.

      1. Seeing DMBA’s stock holdings can cause people thinking that the church is a caring employer.
        Please tell something about the many other lies, the rest of the iceberg, and the institutionalized lawbreaking.

  2. Perhaps what you are talking about with DMBA is much ado about nothing. This is such small insignificant potatoes. You’re so biased that you can’t see straight. It’s interesting to note that no one in your podcast mentioned the fact that there were massive amounts of fraud going down and the First Presidency and Quorum of the Twelve were also hiding their multimillion dollar salaries through a series of LLCs that would make it difficult follow the tithing money from the Church’s bank account to the brethren’s bank accounts. So I want to know all about the Church’s misuse of tithing funds, who was defrauded, how they were defrauded, how the funds were used for lavish vacations, and the like.

    In the SEC’s own internal review of section 13(f) entitled,  “Review of the SEC’s Section 13(f)’s Reporting Requirements,” dated Feb. 15, 2022, they state,  “the SEC would be expected to make extensive use of the Section 13(f) information for regulatory and oversight purposes, no SEC division or office conducts any regular or systematic review of the data filed on Form 13F.”

    Please tell me how the Church created any harm to any individual, retiree, shareholder, insurance company, brokerage house, bank, mom or pop stock trader, church member, SEC, or any federal, state, or local government institution by their alleged misfiling of SEC Form 13F?
    I’m not looking for a blithe dismissive answer. I’m looking for a substantive answer. 
    If your podcast cannot answer this question in a substantive way then it is clearly only meaningless bias of a disgruntled member unqualified to talk about it.

    One thing I am sure of is that you will not attempt to answer my question.

    1. Before asking how “the church created any harm ..” one should show that “the church created any harm ..” .
      Tell something about that and also about “the massive amount of fraud ..” .

  3. In July of 2020 the SEC acknowledged that the Form 13F requirements “for confidential treatment requests to require managers seeking confidential treatment for information contained in Form 13F to demonstrate that:
    1. the information is both customarily and actually kept private by the manager, and
    2. to show how the release of this information could cause harm to the manager…”
    is likely unconstitutional in light of a U.S. Supreme Court decision in June 2019 that changed the standard for determining whether information is “confidential” under exemption 4 of the Freedom of Information Act (“FOIA”).

    Requirement 2 above is the unconstitutional part of the two SEC requirements for confidentiality.

    The Supreme Court’s ruling in Food Marketing Institute v. Argus Leader Media on June 24, 2019 eliminates this “showing harm”requirement for private entities which are forced by federal regulators such as the SEC to submit its private financial information for regulatory purposes.

    The SEC has stated in a rule making procedure that it believes it cannot require a portfolio manager, seeking to keep its SEC Form 13F data confidential, to show how release of the data could harm the manager which submits Form 13F. The submitting manager seeking confidentiality of its SEC Form 13F must only demonstrate the information being submitted “is both customarily and actually kept private by the manager”.

    This ruling came out before the SEC’s compliance order against Ensign Peak and fully demonstrates the Churches constitutional right to keeps its financial information private. I sent you the moral reasons on why under the U.S. Constitution the Church had the right to financial confidentiality and you treated their constitutional rights as being corrupt.

    The Church can at anytime request its Form 23F data be confidential and the SEC would have to comply.

  4. Oh, by the way,
    I had an email tête-à-tête with your super expert finance guy Spencer Anderson about Ensign Peak . He gladly responded to my emails when he thought he was instructing me like one of his students. However, when I exposed his lack of expertise with regards to the SEC and demonstrated he had made erroneous statements he quickly clammed up and would no longer defend his erroneous positions. I’ll share them with you if you like so you will know he doesn’t have the level of expertise you think he has.

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