After two years, Vatican financial trial closes preliminary stage
Vatican CityRNS The Vatican’s “trial of the century,” in which 10 defendants, including a cardinal, face charges of fraud and corruption in a shady real estate deal, has already seen a century’s worth of testimony alleging blackmail, scandalous liaisons and secretly taped conversations with Pope Francis. The trial itself, however, has only just begun. On Tuesday, a hearing ended […]
Vatican bank reports significant profit adopting Catholic ethics
Vatican CityRNS Describing itself as the only financial entity aimed at adhering to Catholic ethics instead of achieving the highest possible profit, the Vatican bank, officially called the Institute for Religious Works or IOR, €29.6 million in profit in 2022, according to its budget published on Tuesday. In its 11th annual budget report, the Vatican’s financial […]
Pope further tightens controls, centralisation of Vatican finances
Vatican City Reuters Pope Francis on Tuesday acted to eliminate wiggle room or foot- dragging by Vatican departments in imposing tighter financial controls, setting a deadline for the closing of investment portfolios in foreign banks, including in Italy. Francis issued a document known as a “rescriptum”, or re-writing, making clear that all investments by all […]
Pope Francis and other prelates approved real estate deal, ex-Vatican official says
Vatican CityRNS Testifying at the massive trial resulting from the Vatican’s latest financial scandal on Wednesday, the former director of the Catholic Church’s anti-money-laundering watchdog agency said Pope Francis and other high-ranking prelates backed efforts to gain sole ownership of the prime London real estate at the center of the scandal. Tommaso Di Ruzza, who […]
Vatican convicts ex-bank chief in property embezzlement scam
Rome, ItalyAP The Vatican’s criminal tribunal on Thursday convicted the former head of the Vatican bank and his lawyer of embezzling millions of euros in proceeds from the sales of Holy See-owned real estate, and sentenced them to nearly nine years in prison each. The court also awarded the bank, known as the Institute of […]