Don't miss

Replay


LATEST SHOWS

ENCORE!

The Best of the 2018 Cannes Film Festival

Read more

ENCORE!

Cannes 2018: and the Palme d’or goes to....

Read more

ENCORE!

Cannes 2018: Lebanese film 'Capharnaum' wows critics

Read more

EYE ON AFRICA

Ebola outbreak in DR Congo: vaccinations to start on Sunday

Read more

MEDIAWATCH

The Royal wedding: Pomp & controversy

Read more

ENCORE!

Cannes 2018: John Travolta brings the mob to the red carpet

Read more

THE WORLD THIS WEEK

Summit or No Summit: North Korea angry over military drill

Read more

DOWN TO EARTH

Could thawing permafrost unleash long-gone deadly viruses?

Read more

FRANCE IN FOCUS

French and noble in 2018: What remains of France's aristocracy?

Read more

Europe

Millions seized from Vatican Bank in money laundering probe

Text by NEWS WIRES

Latest update : 2010-09-21

Prosecutors have seized €23 million from the Vatican Bank and placed its president and a top manager under investigation for failing to disclose information on financial operations as part of a probe into money laundering.

AFP - Prosecutors have seized 23 million euros of Vatican Bank funds and placed its president under investigation for violating money laundering legislation, the ANSA news agency reported on Tuesday.
   
Ettore Gotti Tedeschi and another manager of the Istituto per le Opere di Religione (IOR), the bank's official name, are accused of violating legislation that requires banks to disclose information on financial operations.
   
The Vatican's spokesman declined to comment on the report.
   
The funds were seized temporarily from the IOR's account in another bank, Credito Artigiano, ANSA said.
   
According to earlier reports in the Italian press, investigators suspect that subjects with their fiscal residence in Italy are using the IOR as a "screen" to hide dealings such as fraud or tax evasion.
   
The IOR manages bank accounts for religious orders and Catholic associations and benefits from Vatican offshore status.
   
In September 2009 the IOR nominated Gotti Tedeschi, Spanish banking giant Santander's representative in Italy, as its new head.
   
The appointment was greeted at the time as a move towards greater transparency at the IOR.
   
US archbishop Paul Marcinkus headed the bank in 1971-1989 when it was caught up in scandals including the collapse of the private Italian bank, Banco Ambrosiano in 1982 amid accusations of links to organised crime and political "terrorism".
 

Date created : 2010-09-21

  • BRITAIN

    Pope reaches out to Anglicans on historic Britain visit

    Read more

  • IRAN

    Vatican lobbies Tehran over woman who faces stoning

    Read more

  • VATICAN

    Church sets new guidelines after wave of sex abuse scandals

    Read more

COMMENT(S)