The Vatican criminal court sentenced, this Saturday, in first instance, a high-ranking Italian cardinal, close to Pope Benedict, for fraud, to five and a half years in prison following a trial surrounding financial operations of the Holy Seat.
Former close advisor to Pope Francis, Cardinal Angelo Becciu, aged 75, becomes the highest official of the Catholic Church to have appeared before the Vatican criminal court, the civil justice of the City-State.
He was sentenced this Saturday, in first instance, tried with nine other people for fraud, to five and a half years in prison following a trial surrounding the financial operations of the Holy See.
The cardinal was also fined 8,000 euros while the Vatican prosecutor’s office had requested a sentence of 7 years and 3 months in prison for Mgr Becciu accompanied by a fine of more than 10,000 euros.
“We respect the verdict but we will certainly file an appeal,” declared Mr Fabio Vignone, the cardinal’s lawyer.
A luxury building at the heart of the business
During the trial, the magistrates looked into the purchase for 350 million euros of a luxury building in London between 2014 and 2018 as part of the investment activities of the Holy See, whose real estate assets are considerable .
This sprawling affair has relaunched the debate on the opacity of the finances of the Holy See, while Pope Francis has sought to clean up its operations since his election in 2013. He has also reformed the judicial system so that bishops and cardinals can be judged by lay people and no longer exclusively by their religious peers.
The promoter of justice (prosecutor) Alessandro Diddi requested sentences ranging from almost four years to more than 13 years in prison, in addition to financial sanctions, against the ten defendants who appear for fraud, embezzlement, abuse power, money laundering, corruption and extortion.
Former number two in the Secretariat of State, the main body of the central government of the Holy See at the heart of this transaction, Bishop Becciu retains his title of cardinal but was dismissed from all his functions in September 2020.
Multiple Intermediaries
Over the course of 85 hearings in this so-called “London building” trial, the debates lifted the veil on the opacity of certain financial operations of the Holy See.
Mr. Pignatone had underlined on Saturday “the complexity” of this trial before the magistrates retired to the council chambers.
Among the highlights, the revelations concerning a telephone conversation between Bishop Becciu – on his initiative – with the Pope and recorded without his knowledge, shortly before the start of the trial, in which he asked him to confirm having approved confidential financial movements.
The instruction had described an “almost inextricable” imbroglio of speculative investment funds with leverage, banks, credit institutions, natural and legal persons.
This acquisition at an inflated price highlighted the reckless use of St. Peter’s Pence, the large annual collection of donations intended for the pope’s charitable efforts. It also generated considerable losses in the Vatican’s finances.
The Vatican finally resold the 17,000 m2 building located in the very chic Chelsea district, at the cost of a heavy loss, estimated between 140 and 190 million euros.
The affair caused serious damage to the reputation of the Church and of the Argentine sovereign pontiff, who has multiplied reforms to clean up the finances of the Holy See and fight against fraud.
In addition to the creation of a Secretariat for the Economy in 2014, Pope Francis has overseen the investments and activities of the Vatican Bank, in particular through the closure of 5,000 suspicious accounts.