Former Mormon Church insider exposes alleged financial misconduct in 60 Minutes interview.
Originally Published 2 years ago — by CBS News
David Nielsen, a former Ensign Peak portfolio manager, blew the whistle on the Mormon Church's investment arm to the IRS in 2019, alleging that the church had accumulated $100 billion in assets and used the money to bail out businesses with church ties, violating its religious tax exemption status. The church was fined $5 million in February for using shell companies to hide the size of a $32 billion equity portfolio. Church leaders have denied the allegations. Nielsen, a devout Mormon, felt a calling to serve his church and community but turned to the government as "integrity is at stake."