Mormon Church's Finances Under Scrutiny After 60 Minutes Episode.

The Church of Jesus Christ of Latter-day Saints has called a recent "60 Minutes" episode on its investment portfolio "unfortunate" and based on "unfounded allegations." The segment featured a former portfolio manager accusing Ensign Peak Advisors, the church's investment arm, of violating its tax-exempt status and stockpiling over $100 billion instead of using it for charitable purposes. The church defended its financial responsibility and having adequate resources to fulfill its responsibilities, while referring to Ensign Peak as a "rainy day fund." The church declined to address assertions that the Ensign Peak assets have reached as much as $150 billion.