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Join Date: Feb 2013
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The powerful head of the Vatican’s saint-making office, Cardinal Angelo Becciu, resigned Thursday from the post and renounced his rights as a cardinal amid a financial scandal that has reportedly implicated him indirectly.
Becciu, the former powerful No. 2 in the Vatican’s secretariat of state, has been reportedly implicated in a financial scandal involving the Vatican’s investment in a London real estate deal that has lost the Holy See millions of euros in fees paid to middlemen.
The financial problems date from 2014, when the Vatican entered into a real estate venture by investing over $200-million in a fund run by an Italian businessman. The deal gave the Holy See 45 per cent of the luxury building at 60 Sloane Ave. in London’s Chelsea neighbourhood.
The money came from the secretariat of state’s asset portfolio, which is funded in large part by the Peter’s Pence donations of Catholics around the world for the pope to use for charity and Vatican expenses.
UGH UGH UGH
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