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'
Torzi is one of several figures under investigation by Vatican City State prosecutors in connection with multiple financial scandals involving the Secretariat of State.
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.
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.
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.