Vatican Indicts Ex-Bank Head, Says Embezzlement Loss Is $62M - NBC4 Washington
National & International News
The day’s top national and international news

Vatican Indicts Ex-Bank Head, Says Embezzlement Loss Is $62M

The IOR, as the bank is known, is joining a civil case alongside the criminal trial to try to recover some of the Vatican's losses

    processing...

    NEWSLETTERS

    The Real Truth About Organ Donation
    y Franco Origlia/Getty Images
    This April 16, 2017, file photo shows Pope Francis in Vatican City, Vatican.

    Vatican prosecutors have indicted the former president of the Vatican bank and his lawyer on embezzlement charges, holding them responsible for losses of more than 50 million euros ($62 million) from real estate sales.

    The trial of Angelo Caloia and his lawyer is due to begin March 15. A third suspect died while under investigation.

    The Institute for Religious Works said in a statement late Friday that Caloia and his lawyer were charged with alleged acts of embezzlement and self-laundering between 2001 and 2008, when the bank disposed of "a considerable part of its real estate assets."

    The IOR, as the bank is known, is joining a civil case alongside the criminal trial to try to recover some of the Vatican's losses.

    Chanel Visionary Karl Lagerfeld Dies at 85

    [NATL] Chanel Visionary Karl Lagerfeld Dies at 85

    Karl Lagerfeld, the powerhouse designer behind French luxury brands Fendi, Chanel and Karl Lagerfeld, has died.

    (Published Tuesday, Feb. 19, 2019)

    Caloia and the lawyer deny wrongdoing.