The Church of Jesus Christ of Latter-day Saints' came out against allegations made by Whistleblower David Nielsen against the church's investment arm.
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In a statement to Fox News Digital, a spokesperson for the church condemned Nielsen's claims and the"60 Minutes" report. What is not spent each year is transferred into a reserve fund, Nielsen said. He claimed that this fund has ballooned beyond $100 billion since its inception in 1997. "You could solve big problems with $100 billion," Nielsen said."I thought we were gonna change the world. And we just grew the bank account."
"It's a bit tongue in cheek. But deep down, I think a lot of the employees really did believe that," he said. In 2018, Nielsen alleges, the church called an emergency meeting after a website called"Mormonleaks" allegedly connected church members to shell companies that held billions of dollars in stocks and bonds. Nielsen resigned in 2019 and filed a 74-page whistleblower complaint with thealleging that Ensign Peak violated its tax-exempt status by moving funds to for-profit businesses. It was not until 2021, he says, that he was contacted instead by the Securities and Exchange Commission.
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