Tags: EU | REL | Vatican | Bank

Vatican Indicts Ex-bank Head, Says Embezzlement Loss Is $62M

Saturday, 03 March 2018 05:38 AM

VATICAN CITY (AP) — Vatican prosecutors have indicted the former president of the Vatican bank and his lawyer on embezzlement charges, holding them responsible for losses of more than 50 million euros ($62 million) from real estate sales.

The trial of Angelo Caloia and his lawyer is due to begin March 15. A third suspect died while under investigation.

The Institute for Religious Works said in a statement late Friday that Caloia and his lawyer were charged with alleged acts of embezzlement and self-laundering between 2001 and 2008, when the bank disposed of "a considerable part of its real estate assets."

The IOR, as the bank is known, is joining a civil case alongside the criminal trial to try to recover some of the Vatican's losses.

Caloia and the lawyer deny wrongdoing.

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Vatican prosecutors have indicted the former president of the Vatican bank and his lawyer on embezzlement charges, holding them responsible for losses of more than 50 million euros ($62 million) from real estate sales.The trial of Angelo Caloia and his lawyer is due to...
EU,REL,Vatican,Bank
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2018-38-03
Saturday, 03 March 2018 05:38 AM
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