Mormon-church-linked investment fund amassed $100 billion in tax-free money and claimed it was being stored in preparation for 'the second coming of Christ,' according to a whistleblower complaint

  • 📰 YahooNews
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Mormon Church misled members on $100 billion tax-exempt investment fund, whistleblower alleges

The president of an investment company affiliated with The Church of Jesus Christ of Latter-day Saints claimed that the church amassed about $100 billion in tax-exempt accounts in preparation of"the second coming of Christ," according to a whistleblower complaint lodged with the IRS that was obtained by The Washington Post.

But the complaint alleges that Roger Clarke, the president of the church's investment division, Ensign Peak Advisors, said the funds would be used in the event of the second coming. Story continuesIn the complaint, Nielsen claimed that Ensign did not operate exclusively for religious and charitable purposes, in violation of its designation as a"supporting organization and integrated auxiliary of the Mormon Church."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 380. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines