Whistleblower: Mormon Church Is Stockpiling $100 Billion Intended For Charity
An IRS whistleblower has accused the Mormon Church of misleading its members by hoarding approximately $100 billion, rather than using the funds for charitable work, possibly in breach of federal tax rules, according to the Friendly Atheist.
David A. Nielsen, who left the church earlier this year, filed a complaint that accused the Church of Jesus Christ of Latter-day Saints of misusing donations, tithes, and investments for over more than two decades.
Nielsen, 41, previously worked as a senior portfolio manager at the church’s investment division, a company named Ensign Peak Advisors, and urged the IRS to strip the nonprofit of its tax-exempt status. He claims that Ensign could owe billions in taxes.
Nielsen and his brother, Lars, allege that the money came in but they were never instructed to send it back out for “religious, educational, or charitable activities.” Rather, the church chose to spend the money twice: once, to bail out a “church-run insurance company,” and another time, for a church-owned shopping mall.
Ensign’s president, Roger Clarke, reportedly told others that the hoarded funds would be used in the event of the second coming of Christ, according to the complaint.