Vatican court charges former IOR president with embezzlement

Posted March 6, 2018 1:30 am by Editor

Vatican court charges former IOR president with embezzlement

VATICAN – A former president of the Institute of Religious Works, the so-called “Vatican Bank,” and his lawyer, have been ordered to stand trial at the Vatican on charges of embezzlement and money laundering.According to a press release from the institute, Angelo Caloia, 78, president of the IOR from 1989 to 2009, and his lawyer, Gabriele Liuzzo, 94, are accused of participating in “unlawful conduct” from 2001-2008, during “the disposal of a considerable part of the institute’s real estate assets.”The institute is seeking compensation for damages estimated at more than 50 million euro (C$80.5 million). Caloia is the highest-ranking Holy

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