Pope Francis issues new law in wake of Vatican financial scandals

Pope Francis issues new law in wake of Vatican financial scandals

The Pillar—Pope Francis has issued a new Vatican law that aims to combat corruption by senior officials in the curia and in the city state, and that bars investments in companies or businesses “contrary to the social doctrine of the Church.” The new law also aims to end customary cash gifts exchanged among Church officials…

Vatican finances: London deal players had prior history

Vatican finances: London deal players had prior history

CNA—New details have emerged about the links between the two Italian businessmen at the center of the Vatican financial scandal. In the months before Gianluigi Torzi was asked by the Holy See to act as middle man for the final purchase of the London property at 60 Sloane Ave. from Raffaele Mincione, a company owned…

Vatican Finances: Vatican officials arrest London property broker for extortion and money laundering

Vatican Finances: Vatican officials arrest London property broker for extortion and money laundering

CNA—The Holy See press office announced Friday that Italian businessman Gianluigi Torzi has been arrested after he was interrogated as part of a Vatican financial investigation. Torzi played a crucial role in the controversial purchase of a London property development by the Secretariat of State. “Today the Office of the Promoter of Justice of the…

Vatican Investigators Raid Office, Home of Vatican Official who Oversaw Vatican Investments: London Property Deal Exposed further

Vatican Investigators Raid Office, Home of Vatican Official who Oversaw Vatican Investments: London Property Deal Exposed further

CNA—Vatican authorities have seized documents and computers belonging to a senior curial official as part of an investigation into financial misconduct, the Holy See announced on Tuesday. In a statement issued Feb. 18, the Vatican press office confirmed that investigators had raided the office and home of Msgr. Alberto Perlasca (featured image), the former head…

Heart-breaking exposé by WSJ: Vatican Uses Donations for the Poor to Plug Its Budget Deficit

Heart-breaking exposé by WSJ: Vatican Uses Donations for the Poor to Plug Its Budget Deficit

According to a Wall Street Journal exposé series by Francis X. Rocca, not only does the Vatican use donations for the poor to plug its budget deficit, but only 10% of donations to the Vatican’s Peter’s Pence collection go to charitable works. Although sources of information are not always named and generic resources such as…

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…

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…