A new whistleblower has come to the stage; but it has nothing to do with the impeachment.
A former senior investment manager from Ensign Peak Advisors has come forward, stating that the Mormon church has amassed 100 Billion dollars in cash, stocks and bonds. But the money came from charitable donations.
Also, because the company is registered as a supporting company for the Mormon Church, they don’t have to pay taxes on any of it. The company has only paid out two distributions to for-profit companies, as well.
The church receives about $7 billion in annual funds, and uses 6 billion of it for operating expenses then invests the remaining billion. According to Nielsen, the whistleblower, no donations have been made towards educational or charitable causes with the money in the last 22 years.
The Investment Company’s President Robert Clarke has stated that the money is amassed for the second coming of Christ, just as their Real Estate and grain silos throughout the country.
The investment firm has bailed out two companies in the past few years, one being an insurance company owned by the church and the other a shopping mall that the church was a large part of the original investment. While the church originally stated that no tithing money was used in the $600 million dollar bailout, the whistleblower articulated and exposed that is exactly where the money came from for the bail out – the specific account used to hold surplus tithes.
There will be more to come on this case for sure.
Hope you have a great Tuesday!
Retrieved from https://www.washingtonpost.com/investigations/mormon-church-has-misled-members-on-100-billion-tax-exempt-investment-fund-whistleblower-alleges/2019/12/16/e3619bd2-2004-11ea-86f3-3b5019d451db_story.html?wpisrc=al_news__alert-national&wpmk=1
Mormon Whistleblower Says Church Deceived Members Over $100B in Donations. (2019, December 17). Retrieved from https://www.thedailybeast.com/mormon-whistleblower-says-church-deceived-members-over-dollar100-billion-in-donations
Whistleblower claims that LDS Church stockpiled $100 billion in charitable donations, dodged taxes. (2019, December 17). Retrieved from https://www.sltrib.com/news/2019/12/17/whistleblower-claims-that/