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Vatican Starts Corruption Trial With Cardinal Among Defendants

The Vatican started a corruption trial with alleged offenders including a previously powerful cardinal as Pope Francis ramps up a campaign to overhaul the city state’s scandal-plagued finances. Cardinal Angelo Becciu, who served as chief of staff in the Vatican’s secretariat of state, is the highest-placed Vatican figure to face… Read More

As Cardinal Becciu goes to court, Francis’ financial reforms also on trial

The Vatican is opening criminal proceedings on July 27 against Giovanni Angelo Becciu, a once-powerful cardinal demoted by Pope Francis last fall, and nine other defendants. They are charged with embezzlement and other crimes linked to a 2013 investment of a purported $240 million… Read More

A playboy, a femme fatal spy and a powerful cardinal: Vatican’s biggest corruption trial begins

A playboy, a femme fatal spy and a powerful Italian cardinal are preparing to stand trial in the Vatican’s biggest corruption probe that has changed the way the Holy See conducts criminal justice. Cardinal Angelo Becciu, 73, once one of Pope Francis’ closest confidants, is accused of syphoning off at… Read More
26th July 2021
The Vatican released information on its real estate holdings for the first time on Saturday, revealing it owns more than 5,000 properties as part of its most detailed financial disclosures ever. The information was contained in two documents, a consolidated financial statement for 2020 for the Holy See and the… Read More
20th July 2021
The thwarted takeover of a troubled Italian bank in 2018 will come into focus in a forthcoming Vatican trial that is tied to Pope Francis’s efforts to clean up Holy See finances after decades of scandals. Weakened by mismanagement and bad loans, Carige bank was placed under special administration by… Read More
16th July 2021
The Vatican’s financial watchdog authority reported Thursday that it received 89 suspicious activity reports in 2020, 16 of which it forwarded to the Promoter of Justice for possible prosecution. In a 52-page annual report, released July 15, the Supervisory and Financial Information Authority (ASIF) said that the figures underlined… Read More
6th July 2021
A prominent Italian cardinal was among 10 people sent to trial in the Vatican on Saturday charged with financial crimes including embezzlement, money laundering, fraud, extortion and abuse of office. Cardinal Angelo Becciu, formerly a senior official in the Vatican administration, as well as two top officials at the Vatican’s… Read More
10th June 2021
The Holy See needs to further strengthen measures to combat money laundering and financing of terrorism, the Council of Europe’s anti-laundering body Moneyval said in a report published Wednesday. While Vatican authorities have a solid understanding of the threats from money laundering and financing of terrorism, and of the… Read More
19th May 2021
The Italian businessman accused of extorting Vatican officials during the purchase of a valuable London property is set to be bailed after a judge ordered he put up 1.1 million pounds ($1.6 million) in security. Gianluigi Torzi, 42, can be released on conditional bail, Judge Paul Goldspring said. He was… Read More
3rd May 2021
Pope Francis issued a new decree on Thursday mandating full economic disclosure and controls for Vatican managers, including cardinals, and stipulating that no one can accept personal gifts worth more than 40 euros ($49). The decree followed another papal law last May in which Francis tightened rules for Vatican procurement… Read More
13th April 2021
Italian magistrates have issued an arrest warrant for Gianluigi Torzi, a financial broker caught up in a scandal involving the Vatican’s purchase of a building in an upscale London area, police said on Monday. Financial police said in a statement that they were looking for Torzi and three Italian associates… Read More
30th March 2021
A Vatican official allegedly offered a businessman the services of a call girl as they negotiated the Holy See’s £300 million purchase of a landmark London property, according to a High Court ruling. Gianluigi Torzi claimed that Fabrizio Tirabassi, a senior lay official involved in the acquisition of an office… Read More
25th March 2021
Slovenian authorities have reportedly filed preliminary charges against an Italian woman on suspicion of laundering funds illegally obtained from the Vatican through Slovenian-registered companies. According to Slovenian daily Večer, criminal investigators in the capital city of Ljubljana have filed the preliminary charges against Cecilia Marogna and a Slovenian citizen they think may… Read More