A whistleblower complaint to the Internal Revenue Service accuses The Church of Jesus Christ of Latter-day Saints of building a $100 billion investment portfolio using donations intended for charitable purposes, potentially in violation of federal tax laws, according to a Monday report published by The Washington Post.
The complaint was filed by David Nielsen, a former portfolio manager for the church’s nonprofit investment arm Ensign Peak Advisors, with the help of his brother Lars Nielsen, who spoke with and provided supporting documents to The Post.
“In a declaration signed under penalty of perjury, Nielsen urges the IRS to strip the nonprofit of its tax-exempt status and alleges that Ensign could owe billions in taxes,” The Post reports.