Millions in Vatican Assets Seized

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by Bradley Eli, M.Div., Ma.Th.  •  ChurchMilitant.com  •  April 6, 2020   

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TRANSCRIPT

Pope Francis is establishing an emergency fund to supposedly aid victims of the Wuhan virus. However, savvy Catholics know the Vatican often misdirects funds — as has been in the news frequently — even as recently as two days ago. 

This past Friday a Maltese court ordered $32 million in assets belonging to the Vatican Bank be seized. 

The Vatican Bank's official name is the Institute for Religious Works, and in this case, the so-called religious works amounted to reneging on financial obligations with real estate and money firms that dated back to the final weeks of Pope Benedict XVI's papacy.

This recent case, however, is just the latest in a long series.

Church Militant was on the ground in Rome in October covering the Amazon Synod when news broke of the nearly half a billion dollars pilfered from Peter's Pence, the account earmarked to help the poor. 

Michael Voris reported, "About half of the money, approximately $250 million, diverted from Peter's Pence, was used to buy a massively expensive building in the heart of London on Sloane Avenue."

He added: "Additionally, some of the remaining roughly $250 million — 200 million in euros — appears to have been diverted to either phony legal companies or, at a minimum, fraudulent billable hours to cover for the purchase of the London property."

The scandal resulted in firings and barring entrance to the Vatican of former workers.

The longtime Vatican head of security had to resign over the affair.

The Vatican's chief prosecutor, Gian Piero Milano, said the investigation uncovered "serious indications of embezzlement, fraud, abuse of office, money laundering and self-laundering."

When asked about the hundreds of millions redirected from an account set up to help the poor, Pope Francis defended the transactions as "good administration."

As Rome continues to look like a ghost town, many are wondering after the Wuhan virus has passed, precisely how the plague of financial corruption inside the Vatican will be addressed and how they can trust that this latest appeal for cash will reach its intended target.

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