Cardinal Pell objected to 50MM Euro Vatican hospital loan, those now embroiled in Vatican financial scandal prevailed

Cardinal Pell objected to 50MM Euro Vatican hospital loan, those now embroiled in Vatican financial scandal prevailed

Vatican City, Nov 5, 2019-CNA—A 50 million euro loan request to secure the purchase of a bankrupt hospital was vetoed by Cardinal George Pell and financial authorities at the Institute for Works of Religion, commonly called the Vatican Bank, before it was approved by the Holy See’s central bank, APSA, where the loan breached international…
Vatican cardinals linked to missing millions and financial scandal

Vatican cardinals linked to missing millions and financial scandal

Vatican City, Oct 29, 2019-CNA– An Italian dermatology hospital and two senior cardinals are at the center of a burgeoning financial scandal involving a Vatican bank, the U.S.-based Papal Foundation, and millions of euros from misallocated government grants. The events concern the financial collapse of the Istituto Dermopatico dell’Immacolata (IDI), an Italian hospital.  According to…
Vatican documents detail suspicious investments at Secretariat of State

Vatican documents detail suspicious investments at Secretariat of State

A confidential report from the Vatican’s anti-corruption authority shows that the Secretariat of State has used about $725 million, most of which came from the pope’s charity fund, in off-books operations. Italian weekly L’Espresso published a report Oct. 20, revealing information from three confidential Vatican documents, one of which is a report from the pope’s…
Cardinal Becciu at center of Vatican financial investigation

Cardinal Becciu at center of Vatican financial investigation

CNA—The recent raid of Vatican offices is connected to an investigation into charges that Vatican money financed the development of luxury properties in London, and led to a windfall for the Vatican’s investment managers, according to an Oct. 14 report from Financial Times. According to Financial Times, Vatican police and prosecutors are investigating the possibility…
Vatican prosecutors conduct raid on Secretariat of State offices

Vatican prosecutors conduct raid on Secretariat of State offices

Vatican prosecutors seized documents and electronic devices in a raid executed Tuesday at the offices of the most senior curial department. According to a statement from the Holy See press office Oct. 1, the raid was conducted at the offices of the general affairs section of the Secretariat of State. The action was authorized by…