It’s time to shut down the Vatican Bank

by 1389 on July 3, 2013

in 1389 (blog admin), corruption, crime, Croatia, Italy, Roman Catholic Church

Quotes from the article excerpted below:

The Vatican bank was founded in 1942 by Pope Pius XII to manage assets destined for religious or charitable works.

What was it that ‘Pope Pius XII was managing’? From what has been written, he was not ‘managing’ all that well when it came to genocide, and minor details such as that. Finally they’re outed. But, for how long? Will it stick, or what’s next? On July 1st, the day that Pope Pius’ most favored flock got a nod from EU, does the truth now get a chance of being outed, too?

The late Archbishop Paul Marcinkus, an American prelate who headed the Vatican bank at the time, was charged as an accessory to fraudulent bankruptcy in the scandal, but Italy’s Constitutional Court eventually backed the Vatican in ruling that under Vatican-Italian treaties Marcinkus had immunity from Italian prosecution. Marcinkus long asserted his innocence and died in 2006.

Hmm, ‘immunity from prosecution’ in this screwed up world. Not all that different from ‘immunity’ that Croatia got in joining the EU.

TIME: Vatican Bank Director, Deputy Resign Amid Scandal

(ROME) — The director of the embattled Vatican bank and his deputy resigned Monday following the latest developments in a broadening finance scandal that has already landed one Vatican monsignor in prison and added urgency to Pope Francis’ reform efforts.

The Vatican said in a statement that Paolo Cipriani and his deputy, Massimo Tulli, stepped down “in the best interest of the institute and the Holy See.”

Cipriani, along with the bank’s then-president, was placed under investigation by Rome prosecutors in 2010 for alleged violations of Italy’s anti-money-laundering norms after financial police seized 23 million euro ($30 million) from a Vatican account at a Rome bank. Neither has been charged and the money was eventually ordered released.

But the bank, known as the Institute for Religious Works, or IOR, has remained under the glare of prosecutors and now Francis amid fresh concerns it has been used as an offshore tax haven.

Last week, a Vatican accountant was arrested as part of Rome prosecutors’ broadening investigation into the IOR. Monsignor Nunzio Scarano is accused of corruption and slander in connection with a plot to smuggle 20 million euro ($26 million) into Italy from Switzerland without reporting it to customs officials.

Scarano, dubbed “Don 500″ by the Italian media because of his purported favorite euro banknote, acknowledged under questioning Monday that his behavior was wrong but that he was only trying to help out friends, attorney Silverio Sica told The Associated Press.

According to wiretapped phone conversations, Scarano was in touch regularly with both Cipriani and Tulli to get the required bank approval to move large amounts of cash into and out of his IOR accounts. Scarano had two such accounts: a personal one and one called “Fondo Anziani” to receive charitable donations for projects to help the elderly, prosecutors say.
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