Vatican court charges former IOR president with embezzlement

March 5, 2018 CNA Daily News News Briefs 0 Print

Vatican City, Mar 5, 2018 / 04:07 am (CNA/EWTN News).- A former president of the Institute of Religious Works, the so-called “Vatican Bank,” and his lawyer, have been ordered to stand trial at the Vatican on charges of embezzlement and money laundering.

According to a press release from the institute, Angelo Caloia, 78, president of the IOR from 1989 to 2009, and his lawyer, Gabriele Liuzzo, 94, are accused of participating in “unlawful conduct” from 2001-2008, during “the disposal of a considerable part of the institute’s real estate assets.”

The institute is seeking compensation for damages estimated at more than 50 million euro (62 million dollars). Caloia is the highest-ranking Holy See financial official to be indicted.

Former IOR director general Lelio Scaletti, who died Oct. 15, 2015, was part of the original investigation, launched in 2014 after complaints were lodged by the IOR. The trial is set to begin March 15.

According to the press release published by the IOR Feb. 26, the trial is an important step that “shows once again the significant commitment that IOR’s management has undertaken in the last four years in order to implement strong and transparent governance, which complies with the most rigorous international standards.”

It also stated that the institute “intends to pursue by civil and criminal judicial proceedings any illicit activity carried out to its detriment, no matter where it occurred and who performed it.”

The institute announced that it has also joined a civil suit, in addition to the criminal proceedings.

In February, a Vatican Court found former IOR general director, Paolo Cipriani and former deputy general director, Massimo Tulli, liable for mismanagement, and ordered them to compensate the IOR for resulting damages.

The news of the sentence against the IOR’s former senior managers was delivered Feb. 6 in a short release that provided no names, nor the amount of money to be compensated.

The Institute for Religious Works was founded in 1942 under Ven. Pius XII but has origins dating back to 1887. It aims to hold and administer finances designated for “religious works or charity,” its website says. It accepts deposits from legal entities or persons of the Holy See and of the Vatican City State. The main function of the bank is to manage bank accounts for religious orders and Catholic associations.

According to 2016 figures, the bank has about $7 billion in assets from almost 15,000 customers. It has about 100 employees and turned a profit of about $44 million.

The Board of Superintendence governs the bank under a six-member Commission of Cardinals. The commission is supervised by Cardinal Santos Abril y Castelló.

Since his election as Bishop of Rome in 2013, Pope Francis has sought to reform the Vatican’s bank and other financial aspects of the Holy See. The process has not been easy. There have been various debates about jurisdiction, oversight, and auditing; establishment of new laws and guidelines; and changes in key personnel and leadership.

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Choose everlasting life, not death, Pope Francis says

November 3, 2017 CNA Daily News 0

Vatican City, Nov 3, 2017 / 04:43 am (CNA/EWTN News).- On Friday Pope Francis said that in contemplating death we are reminded of our ultimate purpose – and how the choices we make here on earth will determine whether we eventually spend eternity in heaven.

“A fundamental mark of the Christian is a sense of anxious expectation of our final encounter with God,” the Pope said Nov. 3. “Death makes definitive the ‘crossroads’ which even now, in this world, stands before us: the way of life, with God, or the way of death, far from him.”

The Pope’s reflection on life and death was made in a special Mass at St. Peter’s Basilica for the souls of the cardinals and bishops who have died in the past year.

In his homily Francis reflected on the longing found in the words of the Responsorial Psalm: “My soul thirsts for God, for the living God. When shall I come and behold the face of God?”

These words, he said, were impressed upon the souls of the cardinals and bishops remembered in today’s Mass. They served the Church and the people entrusted to them while keeping their eyes set on the prospect of eternity.

Today’s celebration of the Mass can help us to do the same, he said. In praying for the dead we are confronted with the reality of our own death, and though it may renew our sorrow for our friends and family members who have died, it also increases our hope.

We especially find hope in the Eucharist, he said. In the Eucharist is the physical expression of Jesus’ words in the Gospel of John: “I am the living bread that came down from heaven. Whoever eats of this bread will live forever.”

“These words evoke Christ’s sacrifice on the cross. He accepted death in order to save those whom the Father had given him, who were dead in the slavery of sin. By his love, he shattered the yoke of death and opened to us the doors of life.”

When we receive the body and blood of Jesus, he said, we unite ourselves to his faithful love and to his “victory of good over evil, suffering and death.”

In this divine bond with the charity of Christ we can know that communion with those who have died before us is not “merely a desire,” but that it “becomes real,” he said.

Francis closed saying that through his death and resurrection, Jesus has shown us that “death is not the last word.” And faith in this resurrection transforms us into “men and women of hope, not despair, men and women of life, not death.”

“This hope, rekindled in us by the word of God, helps us to be trusting in the face of death.”

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