Vatican condemns 10 people, including a cardinal, in an international financial scandal

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A statement issued by the Vatican on Saturday said that the investigation, which began in July 2019, was conducted by the Vatican in cooperation with the Italian authorities and revealed “a vast network of relationships between financial market operators who have caused great losses to the Vatican’s finances.” .

The Vatican added that Cardinal Giovanni Angelo Piccio was accused of “committing the crimes of embezzlement, abuse of office … and bribery.” Becciu allegedly used money from the Vatican for his two brothers’ businesses, according to a detailed report by Vatican News, which prompted the Pope to sack the cardinal last year.

Bessio, who once held a powerful position in the Vatican State Secretariat, said Saturday in a statement that he was the victim of a “conspiracy” against him and insisted his innocence. Vatican laws require the pope to sign any investigation and conviction of a cardinal.

Pope Francis Becciu, 73, created a cardinal in 2018 and appointed head of the office that oversees canonization of saints. Since 2011, he has held the position of “alternate” in the Vatican State Secretariat, a powerful position similar to a chief of staff.

The alleged illegal activities the investigation found relate to investments using charities’ money in “high-risk financial activity” for personal gain, which includes investing in Angola’s fossil fuel industry, which could amount to more than 200 million, according to a detailed report from Vatican News.

Vatican News said Saturday that the investigation also uncovered irregularities related to the purchase and sale of an “overvalued” property in London, where the accused was allegedly complicit in forgery and extortion, among other crimes.

Saturday’s indictment also targets Rene Bruhlhart, the former head of the Vatican’s Financial Information Authority, and Tommaso de Rosa, its former director, as well as four companies from the United States, Slovenia and Switzerland.

In a statement, he said Bruelhart called the indictment a “procedural error” and added that he had always performed his duties “honestly, faithfully and in the exclusive interest of the Holy See.”

The trial will begin on July 27.

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