Sunday, December 7, 2014

Massive Embezzlment Conspiracy Reported Involving The Vatican Bank: As Much As $70 Million Siphoned Off In Fraud

From Crux news on 12/6/2014:

A statement on Saturday from the Vatican bank confirmed that two former managers and a lawyer are facing criminal charges and their accounts have been seized, describing the move as a sign of the bank’s “commitment to transparency and zero tolerance.”

The statement appeared in response to a Reuters report identifying the accused parties as former bank president Angelo Caloia, former director general Lelio Scaletti, and a lawyer named Gabriele Liuzzo. All are Italian.

According to the Reuters report, the three men have been charged by a Vatican prosecutor with embezzling money from the sale of 29 buildings to mainly Italian buyers between 2001 and 2008.             
Almost $20 million has been frozen in accounts belonging to the three men as part of the probe. According to documents obtained by Reuters, a Vatican prosecutor suspects that as much as $70 million may have been illegally siphoned off from those sales.

Today’s statement from the bank, formally known as the “Institute for the Works of Religion,” says that the suspicions arose from an internal review process launched in 2013, and that it was officials at the bank who reported the matter to the Vatican’s Promoter of Justice with a recommendation that charges be filed.


Read the whole story here.

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