Report: Vatican Set to Lose More Than £100 Million on Failed London Property Deal
The ‘Financial Times’ said the Holy See invested more than $400 million into the real estate, which will sell for around $270 million.
Results from Tag: 'london property deal'
Vatican’s ‘London Property’ Trial Adjourned Until October
Cardinal Angelo Becciù, one of 10 defendants, was accompanied by his former secretary, Msgr. Mauro Carlino, who is also being tried, for the eight-hour hearing Tuesday.
As Cardinal Becciu Trial Looms, a Major Question: How Much Did Top Vatican Officials Know?
Vatican trial over failed London property deal to begin July 27.
Gianluigi Torzi, Italian Broker for Vatican’s London Property, Arrested in UK
Torzi is one of several figures under investigation by Vatican City State prosecutors in connection with multiple financial scandals involving the Secretariat of State.
Report: Vatican Considering Sale of London Property at Heart of Financial Scandal
This month, an Italian judge issued an arrest warrant for Torzi based on an investigation by police in Rome into suspected fraudulent billing, money laundering, and other financial crimes in collaboration with three of his associates.
Cardinal Parolin Letter Not a ‘Smoking Gun’ Regarding Failed Vatican Property Deal
Sources tell the Register that the March 2019 letter the Vatican secretary of state sent to the president of the Vatican Bank appears to be a justifiable action intended to stem further losses on the property transaction.
Vatican Investments Linked to Global Money Laundering Investigations
Italian newspaper Corriere della Serra reported that the Centurion Global Fund has raised around 70 million euro in cash, and that the Holy See’s Secretariat of State is the source of at least two-thirds of the fund’s assets.
