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Holy Money - Financial Scandals of the Catholic Church

Holy Money - Financial Scandals of the Catholic Church
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The Vatican has been hit with another financial scandal. It has begun an investigation to know how $200 million worth of charity funds parked in Swiss Bank accounts ended up financing a luxury property development in London’s upscale Chelsea district that generated large profits for a company that managed the investment for the Holy See, reported Financial Times.

According to the More
The Vatican has been hit with another financial scandal. It has begun an investigation to know how $200 million worth of charity funds parked in Swiss Bank accounts ended up financing a luxury property development in London’s upscale Chelsea district that generated large profits for a company that managed the investment for the Holy See, reported Financial Times.

According to the reports, the project to construct 49 luxury apartments at 60 Sloane Avenue is being probed the Church officials after funds worth $200 million held in Swiss bank accounts controlled by the Secretariat of State was transferred to a Luxembourg investment fund called Athena Capital. The Vatican is said to be engaged in the project since 2014.

After suspecting financial irregularities, an investigation was launched by Vatican police and raids were conducted at the offices of the Holy See’s Secretariat of State and its Financial Information Authority or AIF. The police took away documents and electronic devices. Two departments were under investigations.

www.opindia.com/…/vatican-catholi…

Cardinal Becciu at center of Vatican financial investigation

www.catholicnewsagency.com/news/cardinal-becciu…
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This week: A curious media silence about a blockbuster Vatican story
www.catholicculture.org/commentary/otn.cfm