Civil Litigation
Aug. 17, 2021
Portfolio manager’s declaration filed to support suit against Mormon church
Portfolio manager David Nielson, of Ensign Peak Advisors Inc., an investment firm managing church assets, said in a declaration filed Monday that the church used $1.4 billion in tithes to purchase and develop City Creek Mall in Utah and $600 million to bail out Beneficial Life, a church-owned insurance company.
An investment firm connected to the Church of Jesus Christ of Latter-day Saints approved a $2 billion withdrawal of church donations to pay for a mall development and to bail out a church-owned insurance company, according to a motion filed Monday by a former member who alleged tithes from members were misappropriated.
Portfolio manager David Nielson, of Ensign Peak Advisors Inc., an investment firm managing church assets, said in a decla...
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