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Moon Money / Investigation #246541

CBS Evening News for Monday, Jun 21, 1976
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(Studio) House Democrat asks IRS (Internal Revenue Service) to coordinate investigation of money of Reverend Sun Myung Moon.
REPORTER: Roger Mudd

(New York) Korean evangelist Moon and his Unification Church have lots of money. Bicentennial spectacle at Yankee Stadium cost $1 million. [Moon ASSOC. - (translated) explains Moon's message.] Moon bought $20 million worth of US real estate. [Moon assistant Bo Hi PAK - says Moon doesn't engage in bus.]
REPORTER: Robert Schakne

(DC) Moon and 20 followers put up 1/2 money needed to start up new Diplomatic National Bank. Moon owns $80,000 worth of stock in the bank; Pak owns $75,000 worth of stock in bank. Hd. of United States church, Neil Salonen, owns $30,000 of stock; director of Moon's Training Institution, Ken Sudo, owns $70,000. Moon stkholders. own 45% of bank shares. Bank attorney says Moon stkholders. haven't tried to influence bank policy. The legal issue is whether group is acting as bloc or as individuals. [Bank attorney Alan NOVINS - says an individual with large number of shares would exercise some sort of control over bank.] [House subcommittee on international orgs. Representative Don. FRASER - says wants to find out if Moon money is legitimate.] Young church disciples support yearly budget of $12 million by their own contributions, fund raising and working in church-owned profit-making enterprises. [PAK - says neither Moon nor Salonen receive salary from church.] pak later recalls that Moon is paid salary from church-owned import company in New York. [PAK - says Moon and others must have saved up large amts. of money in order to invest in bank.] Justice Department ,IRS, Comptroller of the Currency and Federal Reserve Bd. are interested in Moon finances. Hidden control of bank violates law. Reporter questions how church leaders get their wealth.
REPORTER: Robert Schakne

Reporter(s):
Mudd, Roger;
Schakne, Robert
Duration:
00:05:10

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