Mormon church investment fund whistleblower describes his Ensign Peak allegations | 60 Minutes

Mormon church investment fund whistleblower describes his Ensign Peak allegations | 60 Minutes

A former senior portfolio manager who labored at the financial investment arm of the Church of Jesus Christ of Latter-day Saints alleges the business masqueraded as a charity and violated its tax exempt position by directing resources created from member donations to bail out business enterprise with ties to the church.

David Nielsen submitted a whistleblower criticism with the IRS in 2019. Nielsen suggests that during his 9 years functioning at Ensign Peak Advisors, the benefit of the firm’s investments ballooned previous $100 billion. In his very first public responses, Nielsen informed 60 Minutes the agency applied wrong data and

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SEC Reportedly Probes Mormon Church About $100 Billion Expense Portfolio Allegedly Saved For ‘Second Coming Of Christ’

SEC Reportedly Probes Mormon Church About 0 Billion Expense Portfolio Allegedly Saved For ‘Second Coming Of Christ’

Topline

The Securities Trade Commission is investigating the Church of Jesus Christ of Latter Day Saints around allegations it failed to disclose investments in a secretive $100 billion portfolio, the Wall Avenue Journal noted Friday, many years soon after the church was accused of skirting tax regulations and deceiving donors to make up a fund one particular chief purportedly recommended could be made use of in the “second coming of Christ.”

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