Former Mormon Church insider exposes alleged financial misconduct in 60 Minutes interview.

1 min read
Source: CBS News
Former Mormon Church insider exposes alleged financial misconduct in 60 Minutes interview.
Photo: CBS News
TL;DR

David Nielsen, a former Ensign Peak portfolio manager, blew the whistle on the Mormon Church's investment arm to the IRS in 2019, alleging that the church had accumulated $100 billion in assets and used the money to bail out businesses with church ties, violating its religious tax exemption status. The church was fined $5 million in February for using shell companies to hide the size of a $32 billion equity portfolio. Church leaders have denied the allegations. Nielsen, a devout Mormon, felt a calling to serve his church and community but turned to the government as "integrity is at stake."

Share this article

Want the full story? Read the original reporting

Read on CBS News