Whistleblower Exposes Mormon Church's Secret $100bn Hedge Fund

A former investment manager for the Church of Jesus Christ of Latter-day Saints has accused the organization of stockpiling more than $100bn in funding intended for charity work but never spent it on such projects. The church's investment firm, Ensign Peak Advisors, acted as a "clandestine hedge fund" and dodged billions of dollars in taxes by falsifying records, according to whistleblower David A Nielsen. The church paid $5m to resolve its SEC case in February, but experts say the likelihood of the IRS investigating Nielsen's claims is low.