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: 'raffaele mincione'
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.
‘Conflict of Interest’? — Mincione Invested Vatican in Torzi Bond Before London Sale
A fund managed by Raffaelle Mincione, the building owner, invested 10 million euros of Vatican funds into securitized debt packaged and sold by a company belonging to Gianluigi Torzi, the broker of the building sale.
Mincione Asks UK Court to Rule He ‘Acted in Good Faith’ in Vatican Deal
Details of the suits had not previously been made public, but on Sept. 15, a news outlet reported that Mincione is seeking declaratory relief from the court, asking that a judge rule he did not behave improperly in his dealings with the Vatican.
Vatican Finances: London Deal Players Had Prior History
Last month, Gianluigi Torzi was arrested by the Vatican and charged with a range of financial crimes. The following day, Vatican-state media accused Raffaele Mincione of a “conflict of interest” in his management of investments for the Secretariat of State.
