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…
Becciu says $200 million London property deal was ‘accepted practice’

Becciu says $200 million London property deal was ‘accepted practice’

CNA—Cardinal Angelo Becciu has denied any impropriety in a real estate investment made with Vatican funds and insisted that he only acted in the best interests of the Holy See. In an interview with Italian media published Tuesday, the former deputy at the Holy See’s Secretariat of State rejected any wrongdoing in the authorization of…
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…