Posts Tagged ‘Vatican finances’

Vatican police arrest Italian in investigation of London real estate deal

Monday, June 8th, 2020

Vatican police on Friday arrested Gianluigi Torzi, an Italian middleman who was part of a controversial deal in which the Vatican used Church money to purchase a luxury building in London as an investment. Torzi, who was arrested after questioning by Vatican magistrates, was accused of extortion, embezzlement, aggravated fraud and money laundering, the Vatican Read more

Vatican prosecutors investigate lay secretariat official

Thursday, May 14th, 2020

Vatican prosecutors are investigating a lay official who oversaw investments for the Vatican’s Secretariat of State. The investigation is probing the secretariat official’s appointment as a director of a company owned by the financier who brokered the deal for a London luxury apartment building. Vatican prosecutors are also continuing to look into suspicious financial transactions Read more

Four powers the pope needs to grant the new chief of Vatican finances

Monday, November 25th, 2019

If you have to ask a Jesuit to straighten out your finances, you are in big trouble. Yet that is what Pope Francis has done. True, some of us can balance our chequebooks, but that is not our charism. In the late 1980s, I was handed the books by the director of a Jesuit think Read more

Unexpected: Vatican replaces financial watchdog head

Thursday, November 21st, 2019

Amid a brewing financial scandal over the Holy See’s investments in London real estate, Pope Francis, Monday, announced he will replace the Vatican’s top financial watchdog official. Announcing René Brülhart’s replacement, the Vatican said Pope Francis has chosen a new president but does not name him or her. The three-sentence announcement said Francis thanked Brülhart Read more

New head of Vatican’s economy office needs pope’s strong backing to succeed

Monday, November 18th, 2019

When Father Juan Antonio Guerrero was announced as the new head of the Secretariat for the Economy, a collective ‘huh?’ could probably be heard across Rome. The Spanish Jesuit is not a Vatican veteran and has only been in Rome for about two years, where he oversaw the various Jesuit institutions located in and around Read more

Cleaning up Vatican finances reaps EU reward

Monday, December 3rd, 2018

Cleaning up Vatican finances and making them more transparent is paying big dividends. Before the financial clean up – which Pope Benedict XVI launched in 2009 and Pope Francis has continued – the Vatican Bank had been an embarrassment to the Church. The aim of the clean-up was to fight money laundering and terrorist financing and Read more

Vatileaks author’s new book promises fresh secrets

Thursday, November 2nd, 2017

An Italian journalist known as the “Vatileaks’ author is about to publish a new book revealing fresh secrets about sex, crimes and money in the Holy See. Gianluigi Nuzzi faced court over his last book (Vatican SpA) for leaking confidential Vatican documents. His new book is called Original Sin: Secret Accounts, Hidden Truths, Blackmail and Read more

Pope Francis making progress in Vatican’s financial clean-up

Monday, March 20th, 2017

Pope Francis is making progress in cleaning up the Vatican’s hidden financial corners. He has invited international financial watchdog, Moneyval, to check the accounts. He has also had the Vatican’s Financial Information Authority (AIF) have a look at the Holy See’s finances. The AIF has found 23 cases of suspected financial irregularity. It has sent Read more

New Zealand implicated in donation from a dubious trust to Order of Malta

Monday, March 20th, 2017
dubious trust

Germany’s Bild newspaper says a multi-million dollar donation seen to be at the centre of the Order of Malta’s recent dispute with the Holy See came from a New Zealand registered trust. Bild reported that the Grand Chancellor of the Order, Baron Albrecht Freiherr von Boeselager, accepted a 30 million Swiss franc donation (US$31 million) Read more

Pyrrhic victory for old guard at the Vatican?

Tuesday, July 12th, 2016

There are many ways of analyzing the fault lines in the Vatican, but perhaps the most time-honored (if also often exaggerated) is the tension between an Italian old guard and pretty much everybody else. By conventional political logic, anyway, Saturday saw the Italians notch a fairly big win. It could turn out, however, to be Read more