A federal lawsuit alleges the investment arm of The Church of Jesus Christ of Latter-day Saints misused hundreds of thousands of dollars donated by three men by investing the money instead of using it for charitable purposes as they claim was promised.
FILE - In this April 27, 2006 file photo, the sun sets behind the Mormon Temple, the centerpiece of Temple Square in Salt Lake City. A federal lawsuit filed Tuesday, Oct. 31, 2023 against The Church of Jesus Christ of Latter-Day Saints and its investment arm alleges the faith misused hundreds of thousands of dollars donated by three men by investing the money instead of using it for charitable purposes as they claim was promised. CHEYENNE, Wyo.
The church has previously defended how it handles member contributions, calling Huntsman’s claims baseless while claiming contributions go to a variety of religious purposes including missionary work, education, humanitarian causes and construction of churches, temples and other buildings important to church work.
Instead, the church allegedly hid the fact that some if not all donations are permanently invested in accounts never used for charitable work. That includes tithes; regular donations amounting to 10% of a person’s income expected from members of the church. The money instead has gone to Ensign Peak Advisors, a nonprofit created in 1997 that has grown to over $100 billion in value, the lawsuit alleges.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Mormon Land’: Can Latter-day Saints become as good at peacemaking as they are at proselytizing?On this week's 'Mormon Land' podcast, Eboo Patel, a disciple of interfaith cooperation and peacemaking, and retired federal Judge Thomas Griffith, a retired federal judge and an advocate for bipartisanship, discuss how to bridge partisan polarization.
Read more »
Anchorage’s oldest building, a Russian Orthodox church, gets new life in restoration projectA refurbishing effort will breathe new life into Anchorage’s oldest standing building, a simple Russian Orthodox log church dating from the era of Russia’s colonization of Alaska.
Read more »
Jesus Finally Told Mike Pence to Drop OutThe former vice president said he has “no regrets” in bowing out and…really? Not even the regret of running in the first place?
Read more »
Rock the South 2024: Eric Church, Jelly Roll, Hardy headline lineupOliver Anthony, the Virginia singer-songwriter who made waves with 'Rich Men North of Richmond,' also is set to perform at the festival in Alabama.
Read more »