On December 17, 2019, the Washington Post reported that a former senior investment manager for the Church of Jesus Christ of Latter-day Saints' (the "church") investment arm filed a whistleblower complaint with the Internal Revenue Service (IRS). The complaint alleges that the church has amassed and misused approximately $100 billion intended for charitable purposes.
On August 22, 2019, the United States Attorney's Office for the Central District of California reported the unsealing of a 252-count federal grand jury indictment charging 80 defendants, mostly Nigerian nationals, with conspiracy to steal and launder millions of dollars via multiple online fraud schemes. The report emphasizes that the "FBI is committed to working with our partner agencies worldwide," and that "[t]his indictment sends a message that we will identify perpetrators - no matter where they reside - and we will cut off the flow of ill-gotten gains."
Developing and implementing a succession plan can provide several benefits to CEOS and partners.