Vatican Criminal Trial to Shed Light on Failed Carige Bank Takeover
ROME - The thwarted takeover of a troubled Italian bank in
2018 will come into focus in a forthcoming Vatican trial that is tied to Pope
Francis's efforts to clean up Holy See finances after decades of scandals.
Weakened by mismanagement and bad loans, Carige bank was
placed under special administration by the European Central Bank in early 2019
after a failed attempt led by one of its main shareholders, Raffaele Mincione,
to take control.
Vatican prosecutors allege that Mincione bought a stake in
Carige with embezzled money including funds raised from faithful Catholics and
intended for the needy.
They have indicted him and another nine people including a
prominent Cardinal Angelo Becciu over a multi-million-euro scandal that also
involves the Vatican's purchase of a building in one of London's smartest
districts.
The trial is due to begin on July 27. The defendants are all
free pending the opening of the case.
Mincione, who lives in London, has consistently denied
wrongdoing. His Italian lawyer Luigi Giuliano declined to comment, saying
"he wants to prepare the defence arguments in the utmost
confidentiality" ahead of the trial.
The former Carige shareholder resigned from the lender's
board in September 2018. Two months later, Mincione sold the London property to
the Vatican in a deal negotiated by another Italian middleman, Gianluigi Torzi,
who also faces trial.
Torzi has denied any wrongdoing, as has Becciu.
Prosecutors believe the Vatican paid over 350 million euros
($410 million) for the building, including debt, which had been acquired by
Mincione for 129 million pounds ($177.66 million) just a few years before.
As evidence of alleged criminal intent, prosecutors say
Mincione used part of 40 million pounds of Vatican money to repay a loan from
Torzi for the failed bid to take control of Carige’s board.
"Until now, the sources available for public
consultation have never hinted that Mincione had financed the takeover of
Carige with funds from the (Catholic Church)," prosecutors said in their
487-page charge sheet released earlier this month.
The two brokers are accused of embezzlement, fraud and money
laundering. Torzi is also charged with extortion.
Both men have said the sale of the London building was
unconnected to the loan for Carige.
Torzi's lawyer Ambra Giovene told Reuters prosecutors had
yet to prove that part of the 40-million-pound loan was transferred by Mincione
to her client, and stressed there was no link between the two deals.
Carige declined to comment.
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