Pope Francis has issued a new decree making charity funds more transparent and tightening controls on Vatican finances after a scandal over a luxury London property deal, the Reuters website reports today (December 28, 2020).
The main target is the Secretariat of State, which must relinquish management of its funds, investments, and real estate and submit to supervision by two other economic offices.
In 2014, the Secretariat invested about 200 million euros ($244 million) as a partner in a deal to buy a luxury building in London. The deal paid tens of millions of fees to middlemen in attempts to change the terms.
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