Wednesday, May 9, 2018

Ex-Vatican Bank Head on Trial for Embezzlement; He and His Lawyer Believed to Have Stolen $68M

The former president of the Vatican bank has gone on trial on charges he and his lawyer embezzled 57 million euros ($68 million) from Vatican real estate sales, the Fox News website reports today (May 9, 2018).

Angelo Caloia appeared in the Vatican courtroom today; his 95-year-old lawyer and co-defendant, Gabriele Liuzzo, was absent, citing his age.

During the nearly four-hour hearing, the two defendants were accused of selling apartments below market rates and then reselling them at market rates, and pocketing the difference.

Vatican authorities have frozen 17 million euros ($20 million) in the defendants' Vatican bank accounts, and another 10 million euros ($12 million) in Liuzzo's Swiss accounts, the court heard.

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