Every year, Catholics send money to the Pope to be used for charitable purposes; this is known as Peter’s Pence. A 2019 investigation by Corriere Della Sera revealed that the majority of the money isn’t actually used for its intended purpose and is instead used for other investments, such as administrative loopholes and various other … Read more
Corruption in the Vatican – It is the biggest financial scandal of the last 30 years. Not only because of its economic magnitude, but also because this time Pope Francis has decided to instruct the Vatican judiciary to proceed without leniency. Corruption in the Vatican (2021) Genres: Documentary Country: Vatican City Language: English Also known … Read more
“Non-liquid investment tools, unlisted, difficult to view and evaluate from the outside, closed funds, a sort of ‘hedge fund’, moreover with people in conflict of interest, were used. That was not the way to use the money of the Peter’s Pence!”. This is how the general auditor of the Holy See, Alessandro Cassinis Righini, defined … Read more
The Vatican’s “trial of the century”, scheduled to continue in September, has so far offered plenty of drama and raised numerous unanswered questions. One of the most sensitive, not just for Catholics who have donated money to the Vatican, is this: Was Peter’s Pence used to finance investments like the now infamous London property deal? … Read more
Parties have waited more than a year for a federal judge to decide whether to dismiss a lawsuit that claims the U.S. bishops’ conference fraudulently promoted the annual Peter’s Pence collection, but a lawyer for the plaintiff says he expects the case could soon begin moving forward. And while the lawyer who originally filed the … Read more
The Vatican will incur a loss of £100m in donations intended for the needy when it completes the pending sale of a luxurious London office building now at the centre of an international criminal investigation. The Vatican is in the final stages of selling 60 Sloane Avenue, a building in the Knightsbridge district of London, … Read more
A cardinal who allegedly induced an underling to lie to prosecutors. Brokers and lawyers who pulled a fast one over the Vatican No. 2 to get him to approve a disastrous real estate deal. A self-styled intelligence analyst who bought Prada and Louis Vuitton items with the Vatican money that she was supposed to send … Read more
The thwarted takeover of a troubled Italian bank in 2018 will come into focus in a forthcoming Vatican trial that is tied to Pope Francis’s efforts to clean up Holy See finances after decades of scandals. Weakened by mismanagement and bad loans, Carige bank was placed under special administration by the European Central Bank in … Read more
A Vatican judge on Saturday indicted 10 people, including a once-powerful cardinal, on charges including embezzlement, abuse of office, extortion and fraud in connection with the Secretariat of State’s 350 million-euro investment in a London real estate venture. The president of the Vatican’s criminal tribunal, Giuseppe Pignatone, set July 27 as the trial date, though … Read more
An Italian businessman who helped to broker the purchase of a valuable London property for the Vatican was arrested in the U.K. on money laundering charges. Gianluigi Torzi, 42, was arrested at the request of Italian authorities and denied bail, an official at Westminster Magistrates Court said Wednesday. Torzi is alleged to have conspired to … Read more