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New Finance Head: “I Link Money to Mission”
Confusion continues regarding Vatican finances as one cardinal (Becciu) is sacked, another (Pell) returns to Rome, a new report on the Holy See’s finances appears, and a Vatican consultant is arrested
By Christina Deardurff
Cardinal Giovanni Angelo Becciu
The Roman Curia of the Catholic Church released, for the first time in years, a relatively detailed 12-page report on its finances October 1.
Jesuit Father Juan Antonio Guerrero Alves, Prefect for the Secretariat of the Economy of the Holy See
The release of the report coincided with an interview by Andrea Tornielli of the Vatican’s Dicastery for Communication with the Prefect for the Secretariat of the Economy of the Holy See, Jesuit Father Juan Antonio Guerrero Alves.
Despite question marks, Vatican bank verdict is still a watershed
Jan 23, 2021 editor
An image of the sentencing of Angelo Caloia and two others for a fraud scheme involving the Vatican bank. (Credit: Vatican Press Office.)
We witnessed a potential watershed moment this week for financial reform in the Vatican when a longtime former president of the Vatican Bank, along with the bank’s lawyer, were sentenced to eight years and 11 months in jail for their roles in a $70 million fraud.
News Analysis
ROME – We’ve been down this road before, of course, but nevertheless we witnessed what’s being hailed as a landmark moment this week for financial reform in the Vatican when a longtime former president of the Vatican Bank, along with the bank’s lawyer, were sentenced to eight years and 11 months in jail for their roles in a $70 million fraud.
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A former head of the Vatican bank, Angelo Caloia, has been found guilty of embezzlement and money laundering and sentenced to eight years and 11 months in prison, making him the highest-ranking Vatican official to be convicted of a financial crime.
The Vatican court on Thursday, 21 January, also convicted Gabriele Liuzzo, 97, and his son Lamberto Liuzzo, 55, both Italian lawyers who were consultants to the bank.
Caloia led the bank, officially known as the Institute for the Works of Religion (IOR), from 1989 to 2009. The 81-year-old Italian was tried over corrupt real estate deals.
He was accused of conspiring with others to make millions from the below-market sale of more than 20 IOR properties in Italy and laundering the proceeds in Switzerland.