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SALT LAKE CITY — The LDS Church will return $150,000 of tithing paid by a man who pleaded guilty to taking nearly $25 million from 5,400 victims.
A former CNBC guest expert on wealth management, Curtis DeYoung of Draper, Utah, took the money from individual retirement accounts. He was sentenced to 10 years in prison last fall and ordered to repay the money.
DeYoung had paid $239,755 in tithing to The Church of Jesus Christ of Latter-day Saints with his wife, Michelle DeYoung. She was not charged, but the Securities and Exchange Commission named her in a suit seeking to recover funds from American Pension Services, which she owned with her husband.
The court appointed a receiver to recover funds, and the receiver sued the church for the return of the tithing donations.
To read the full article on the Deseret News, click here.