Former Vatican bank head guilty of embezzlement

The Institute for the Works of Religion, commonly referred to as the Vatican Bank (NCR/Joshua McElwee)

A former president of the Vatican bank and his lawyer have been found guilty of money laundering and embezzling millions of euros from property sales. Source: NCR Online.

According to a statement released by the Vatican yesterday, Angelo Caloia, who served as president of the Institute for the Works of Religion from 1999 to 2009, and his lawyer, Gabriele Liuzzo, were sentenced to eight years and 11 months for skimming profits from the sale of Vatican properties.

Giuseppe Pignatone, president of the Vatican tribunal, handed down the sentence and ordered Caloia and Liuzzo to pay a fine of 12,500 euros ($19,600) each.

Lamberto Liuzzo, Gabriele’s son, was also found guilty for his involvement and was sentenced to five years and two months in prison. He was also ordered to pay a fine of 12,500 euros.

All three defendants received a lifetime ban from serving in public office. However, they also have the right to appeal the sentence.

Shortly after the hearing, the Vatican released a statement saying the judgment was the culmination of a two-year investigation “to clarify the main aspects of the case” and to allow experts to compare the amount of money received by the Vatican bank to the market value of the properties.

“This is the first application of the norms introduced in December 2018, within the broader framework of adapting Vatican legislation to international standards for combating money laundering, corruption and other serious crimes,” the Vatican said.

FULL STORY

Former Vatican bank president sentenced for embezzlement (By Junno Arocho Esteves, CNS via NCR Online)

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Ex-Vatican bank president given 9-year prison sentence for money-laundering (CNA

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