categoryMenu_new
 
  Home
  EXTRAORDINARY AH Teaching from Spiritual Hierarchy
  AbundantHope
  NEW READERS! Read Here First
  Supporting AH
  Leadership of AbundantHope
  Announcements
  Regional AH Sites
  Other Sites with AH material
  Contact Us
  Becoming A Messiah
  OUR PUBLIC FORUM IS OPEN TOO ALL
  Mission Ideas
  System Busting
  Cleric Letter/English
  Translations of Cleric Letter
  AH Member Writings
  Candace
  Ron
  Rosie
  Jess
  Brian's Poetry
  James
  Giuseppe
  Esteban
  Telepathic Messages
  Candace
  Jess Anthony
  Vince
  Leonette
  John
  Adam
  Bela
  Joyce
  Hazel
  Kibo
  Peter
  Rosie
  Johan
  Lucia
  Lucia G
  Rubens
  Shellee-Kim
  Ben
  Dorothea
  Solon
  Others
  Targeted Messages
  Hano
  Light Flower
  Changing The Face Of Religion
  - Phoenix Journals - PDF in German
  Candace on Religion
  Other Spiritual Pieces
  Spiritual Nuggets by the Masters
  Phoenix Journals
  Phoenix Journals - PDF
  Telepathic Messages PDF books
  Selections from the Urantia Book
  Illustrations For The Urantia Book
  CMGSN Pieces
  THE WAVE
  Environment/Science
  David Crayford and the ITC
  Health and Nutrition
  Podcasts, Radio Shows, Video by AH
 
  Political Information
  True US History
  Human/Animal Rights
  The Miracle That Is Me
  Education
  Resources
  911 Material
  Books - eBooks
  government email/phone #'s
  Self Reliance
  Video
  Websites
  Alternative News Sources
  Art and Music
  Foreign Sites
  Health and Healing
  Human/Animal Rights
  Scientific
  Spiritual
  Vegan Recipes
  Translated Material
  Dutch
  Gekanaliseerde berichten Jess
  Gekanaliseerde berichten Candace
  Gekanaliseerde berichten Anderen
  Artikelen/berichten
  French
  Canal Jess
  Par Candace
  Other Channels
  Articles
  German
  Telepathische Nachrichten (Candace)
  Telepathische Nachrichten (Jess)
  Telepathische Nachrichten (div.)
  AH Mitgliederbeiträge (Candace)
  AH Mitgliederbeiträge (Jess)
  Spirituelle Schätze
  Italian
  Translations - Candace
  Translations - Jess
  Translations - Others
  Portuguese
  by Candace
  By Jess
  By Others
  Spanish
  Anfitriones Divinos
  Bitácoras Fénix
  Creadores-de-Alas (WingMakers/Lyricus)
  Escritos de Candace
  Escritos de Otros
  Monjoronsón
  Telemensajes de Candace
  Telemensajes de Jess Anthony
  Telemensajes de Otros
  Chinese
  By Candace
  By Jess
  By Others
  Korean Translations
  Hungarian Translations
  Swedish Translations

Search
[an error occurred while processing this directive]
Political Information Last Updated: Feb 21, 2021 - 6:22:11 AM


Vatican Bank Head Jailed For Embezzlement
By Jules Gomes
Jan 24, 2021 - 3:12:38 AM

Email this article
 Printer friendly page Share/Bookmark

https://www.churchmilitant.com/news/article/vatican-bank-head-jailed-for-swindling-millions


Print Friendly and PDF

  • ChurchMilitant.com January 22, 2021

Highest-ranking Holy See official punished for pocketing millions

VATICAN CITY (ChurchMilitant.com) - A Vatican court has sentenced a former president of the Vatican bank to nearly nine years in prison for embezzlement and money laundering.

On Thursday, the court convicted Angelo Caloia, 81, head of the Institute for Works of Religion (Istituto per le Opere di Religione or IOR) - the official name of the Vatican Bank - of siphoning off up to 57 million euros.

Caloia, who was awarded eight years and 11 months in jail, was sentenced along with his two accomplices - Gabriele Liuzzo, 97, and his son Lamberto Liuzzo, 55 - Italian lawyers who were the bank's consultants.

Gabriele Liuzzo was given the same sentence as Caloia, while his son was given a lighter sentence of five years and two months.

The trio allegedly pocketed millions while managing the sale of 29 of the bank's properties - most of them in or near Rome between 2002-2007 - and declaring a book value far less than the actual amount of the sale.

The Vatican court also ordered the sequestering of 38 million euros in defendants' bank accounts that were frozen and a payment of over 23 million euros as compensation to the Vatican bank and its real estate division, with the possibility of further damages.

IOR intends to pursue by civil and criminal judicial proceedings any illicit activity carried out to its detriment, no matter where it occurred and who performed it.Tweet

Some proceeds were deposited in a Rome bank account that was not registered on the IOR's balance sheet, according to documents seen by Reuters at the start of the investigation.

Commitment to Transparency?

German businessman and former IOR president Ernst von Freyberg began an investigation into the scam in 2013, soon after his predecessor Caloia stepped down from the office he had held from 1999-2009.

According to an IOR statement, the "unlawful conduct" by Caloia and his accomplices "was carried out between 2001 and 2008" and "resulted in the disposal of a considerable part of the Institute's real estate assets."

"Overall damages have been assessed in excess of 50 million euros," the IOR said, closing a chapter in the cleanup of financial fraud committed during the pontificates of Pope St. John Paul II and Pope Benedict XVI.

"The decision of committal for trial was taken at the end of an investigation which has been carried out since 2014 by the Vatican Promotor of Justice, following IOR's complaint," it noted.


The bank emphasized how this "important step" showed "the significant commitment that IOR's management has undertaken in the last four years in order to implement strong and transparent governance, which complies with the most rigorous international standards."

"IOR intends to pursue by civil and criminal judicial proceedings any illicit activity carried out to its detriment, no matter where it occurred and who performed it," it announced.

Pope Francis established ... the first commission in history to review the bank after the numerous scandals in which it had been embroiled.Tweet

None of the defendants were present for the sentencing in the tiny Vatican court. Caloia's attorney, Domenico Pulitanò, said he would appeal.

The court found insufficient evidence to convict in regard to the sale of some of the properties. All denied wrongdoing during the trial, which began in 2018.

The IOR released in June 2020 its independently audited financial statement for the eighth consecutive year in a bid to increase transparency and accountability.


 

Image
Institute for Works of Religion, also known as the Vatican Bank

 


The bank's financial data for 2019 includes 5.1 billion euros of client assets, of which 3.4 billion are assets managed for third parties or under custody.

Financial Watchdogs Established

In 2010, Pope Benedict XVI set up a financial watchdog, now called the Supervisory and Financial Information Authority (Autorità di Supervisione e Informazione Finanziaria - ASIF), to monitor the IOR's compliance with international standards on financial crimes.

The ASIF was tasked with "the supervision and the regulation aimed at the prevention and countering of money laundering and the financing of terrorism and for the financial intelligence, as well as for the prudential supervision and regulation of those entities that carry out a financial activity on a professional basis."

In June 2013, the very first year of his pontificate, Pope Francis established the Pontifical Commission for Reference on the IOR, the first commission in history to review the bank after the numerous scandals in which it had been embroiled.

Pope Pius XII founded the IOR in 1942,  although its origins go back to 1887 and the pontificate of Pope Leo XIII.

New Trial Ahead

Meanwhile, Cecilia Marogna, the glamorous 39-year-old Sardinian super-fixer who pocketed over half a million euros from the Vatican for covert consultancy, will likely be put on trial for "embezzlement committed in conspiracy with others," the chief prosecutor of Vatican City's civil court announced Monday.

Have a news tip? Submit news to our tip line.


We rely on you to support our news reporting. Please donate today.




All writings by members of AbundantHope are copyrighted by
©2005-2021 AbundantHope - All rights reserved

Detailed explanation of AbundantHope's Copyrights are found here


Top of Page

Political Information
Latest Headlines
Lin Wood Calls For Your Support . It's Time To Fight Back
Oppression Obsession
As The American Hawk Bombs Overseas, The Rot of Corruption And Bigotry Plucks At its Underbelly At Home
Biden Gives $4 BILLION to WHO and Bill Gates for Global COVID Vaccine Injury Compensation Program
"Not All TV News Sources Are The Same": Congress And The Slippery Slope Of Censorship
Google’s Eric Schmidt & The Artificial Intelligence Military-Industrial Complex
Saudi Arabia ‘categorically rejects’ US Claims About Khashoggi Killing, as Washington Stops Short of Sanctioning Crown Prince MBS
Socialism-In-Practice Was A Nightmare, Not Utopia
A Simple Piece of Legislation – and The Growing Use of Woke Trans Terminology – Exposes the Irrationalism of Western Politics
Shadowland
Targeting Christ
Biden Gun Control Plan Would "Criminalize" Up To 105 Million People: Gun-Rights Group
How Does All Of This End ?
Eugenics Is Alive and Well, and the “Covid-19” Scam is the Engine for Accomplishing Depopulation
Heritage: 11 Myths About the Transgender ‘Equality Act’
Is Switzerland Sliding into Dictatorship? Social Coercion, Privileges to Those Who Accept the Covid Vaccine
A Right Royal Own Goal: Queen Oversteps The Mark With Vaccine Comments
Is the "Variant" Being Used to Scare People Into Getting Vaccinated??
This Can't Possibly Be Anything But A Show But WW3 Is Real
This Movie has long outstayed its Welcome