Posts Tagged ‘Vatican bank’

Making sense of the Vatican’s looming financial scandal Comments 0

Thursday, October 10th, 2019

Last week, the Vatican released a mysterious statement acknowledging a raid by Vatican police on the offices of its Secretariat of State and of its financial watchdog agency, saying it was carried out by judicial order by the Vatican tribunal and with permission from unspecified “superiors.” The Secretariat of State is the most powerful department Read more

Pope signs new statutes for Vatican bank reforms Comments 0

Monday, August 12th, 2019

Pope Francis’s reforms to the Vatican Bank and attempts to restore its ethical credentials include new statutes. On Saturday Francis signed the new statutes and approved other changes to bolster the reforms that have cleaned out the once scandal-ridden institution. The reforms were initially launched by Francis’s predecessor Pope Benedict. Until Benedict and Francis sought Read more

Vatican bank reports decreased profits in 2018 Comments 0

Thursday, June 13th, 2019

The Institute for the Works of Religion, often referred to as the Vatican bank, made a profit of 17.5 million euros (about US$19.8 million) in 2018, just over half the profit reported in the previous year, according to its annual report. The bank, which had made a profit of 31.9 million euros in 2017, said Read more

Profits are down, ethics are up for Vatican bank Comments 0

Thursday, May 24th, 2018

Profits are down for the Vatican bank. The Institute for Religious Works (commonly known as the Vatican bank) issued its annual report on Tuesday. The report says the bank earned 31.9 million euros in profits last year. This is about 7 million euros down from its 36 million euro-profit in 2016. The profits are returned Read more

The embezzlement trial for former Vatican bank CE starts Comments 0

Thursday, May 10th, 2018

The embezzlement trial for the former president of the Vatican bank began on Wednesday. Angelo Caloia and his former lawyer Gabriele Liuzzo (95) have been charged with embezzling 57 million euros ($68 million) in Vatican real estate sales. The case shows the Holy See’s willingness to prosecute shady financial deals that may have involved top Read more

Top Vatican bank staff embezzled €50 million Comments 0

Monday, March 5th, 2018

Accusations of embezzling and laundering €50 million have resulted in a former Vatican bank president and his lawyer being ordered to stand trial. The Vatican says the bank’s former president, Angelo Caloia, is the highest-ranking Holy See financial official to be indicted on such charges. Seventy-eight year-old Coloia, along with his lawyer, 94 year-old Gabriele Liuzzo, Read more

Court rules former Vatican bank managers liable Comments 0

Thursday, February 8th, 2018

A Vatican court found two former top managers of the Vatican bank liable for mismanagement and ordered an injunction for them to pay damages. Read more Related Posts:Vatican bank chasing millions of euros in MaltaVatican bank’s soaring profitsVatileaks author’s new book promises fresh secretsCourt rules it is OK to flip the bird in church

Vatican bank deputy CEO removed Comments 0

Monday, December 4th, 2017

The Vatican bank deputy CEO was removed from his position and escorted from the Vatican on Monday last week. The news of Giulio Mattietti’s removal from the bank (correctly called the Institute of Religious Works) has been confirmed by the Holy See press office. It is not clear why Mattietti was removed, although Italian media Read more

Vatican bank chasing millions of euros in Malta Comments 0

Thursday, October 12th, 2017

The Vatican bank has started legal proceedings in Malta against those it holds responsible for the loss of millions of euros in an investment fund. Maltese judge, Mr Justice Wenzu Mintoff, will preside over the case. His role will include deciding the bank’s total losses. The Vatican statement says the losses are “significant.” It also Read more

Vatican bank’s soaring profits Comments 0

Thursday, June 15th, 2017

The Vatican bank’s annual report shows a profit of €36 million (about NZ$55,630 million) for its last financial year. The profits, which are up €20 million from the €16.1 million in the 2015 year, are “being distributed in aid of the Holy See’s mission”. More properly called the Institute for the Works of Religion, the Read more