Today's Business Headlines: 10/02/25
The feds are probing a Chicago-based startup called Dream Exchange and its alleged ties to the Church of Scientology after a whistleblower claimed the company misused investor funds, according to a report.
Officials from the SEC’s Chicago office have also spoken to the former staffers about the company’s reported links to Scientology-affiliated groups, according to the report.The probe, which is still in its early stages, was sparked by an initial Journal exposé earlier this year on Dream Exchange that described how employees were made to read the writings of church founder L. Ron Hubbard It described how the anonymous whistleblower filed a complaint to the SEC in February, which alleged that the company failed to disclose its links to Scientology to investors. The complaint also claimed that employees were often asked to do volunteer work on behalf of the Church. Joe Cecala, the company’s founder and CEO, is a Scientologist and a major donor to the organization, according to the Journal.Actor John Travolta is arguably the Church of Scientology’s most famous member, alongside “Mission Impossible” star Tom Cruise.The newspaper said that funds from Dream Exchange LLC were shifted into an account held by its parent company, owned by Cecala, that made donations to Scientology-affiliated organizations, totalling tens of thousands of dollars a month. The startup claims to support Black and minority-owned businesses by enabling them to list shares and attract investor capital. Dan K. Webb, a lawyer for Dream Exchange, said “the claims made against Dream Exchange and its founder are false and meritless.”Some foreign governments have labelled the church a cult, insisting it operates more like a business rather than a bona fide religious institution.The Post has approached the Church of Scientology for comment. An SEC spokesperson declined to comment. Scientology was founded in 1954 by science fiction writer Hubbard, who died in 1986, and it enjoys tax-exempt status as a religion in the US. Foreign governments, including France and Germany, have labelled it as a cult, and critics accuse Scientologists of harassing people who seek to quit or those who hit out at the organization.No, Trump's FCC is not going after free speech — but the left has been stifling open debate for yearsDisney succession race to replace CEO Bob Iger now down to two final candidates: reportAddison Rae visits Jimmy Fallon in a showgirl-worthy gold gown first worn by a ’50s burlesque legendSome foreign governments have labelled the church a cult, insisting it operates more like a business rather than a bona fide religious institution. Diddy's 6 'scared,' sobbing kids plea for leniency at his prostitution sentencing, claim he’s 'a changed man'
Church Of Scientology Sec Securities And Exchange Commission Wall Street Wall Street Journal
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hugh Freeze describes Auburn’s offensive line issues and what needs to improveFreeze went in detail about the offensive line's problems during Wednesday's SEC coaches teleconference
Read more »
US government shutdown enters day 1: How is the SEC still functioning?With no end to the US government in sight, the SEC deferred to an operations plan drafted in August to clarify what the limits will be on its regulatory actions.
Read more »
SEC Plans to Open Doors For More Crypto Custody Players in the USThe United States Securities and Exchange Commission has taken another step toward easing the path for the digital asset industry.
Read more »
Lane Kiffin Declared Dynasties Dead in SEC Football As League Changes ScheduleLane Kiffin talked about the ramifications of the SEC scheduling changes coming next year.
Read more »
Thailand Will Extend Its ETF Offering Beyond Bitcoin, Says Regulator: BloombergThe country's SEC will allow local mutual funds and institutions to issue such funds under rules, SEC secretary-general Pornanong Budsaratragoon said.
Read more »
After SEC approval, it’s time to learn what the Texas Stock Exchange is made ofTuesday, TXSE announced it had received approval from the U.S. Securities and Exchange Commission, vaulting the biggest hurdle in its goal to bring capital...
Read more »