Vatican bank’s former chief found guilty of money laundering, sentenced to nearly 9 years in prison

The 81-year-old was handed a 8 year, 11 month prison term on Thursday, making him the highest-ranking Vatican authorities to be founded guilty of a monetary criminal activity. His attorney is appealing his sentence.

Caloia was president of the bank called Institute of Functions of Religious Beliefs (IOR) from 1999 to 2009. He and 2 attorneys who spoke with for the bank were charged with embezzling cash while handling the sale of Italian property owned by IOR in between 2001-2008, presumably stating less than the real quantity of the sale.

The Vatican court likewise founded guilty the 2 attorneys. Gabriele Liuzzo, 97, got the very same sentence as Caloia. Liuzzo’s boy, Lamberto Liuzzo, age 55, was handed a 5 years, 2 month term.

Each guy will likewise need to pay fines and are prohibited from public workplace in all time, according to a news release from the Vatican.

All 3 rejected misbehavior throughout the trial, which began in 2018.

Former president of the IOR Vatican bank, Angelo Caloia is pictured during a court hearing on embezzlement charges at the Vatican.

The Vatican bank has long been afflicted by monetary scandals.

In September 2020 Giovanni Angelo Becciu, among the Vatican’s effective cardinals, resigned from his post in the middle of monetary scandal.
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At the time Becciu stated he was implicated of embezzlement and announced his innocence throughout an interview after efficiently being fired by Pope Francis.

In 2013, Pope Francis established a specialist committee to suggest reforms to the financial and administrative structures of the Holy See, to fight the issue.

Jobber Wiki author Frank Long contributed to this report.