Cover-ups, lavish spending and shady property deals: Financial embezzlements rock Vatican

On Tuesday (July 27), Vatican prosecutors have alleged that a series of jaw-dropping scandals in the biggest criminal trial in the Vatican’s modern history will be unveiled in a modified courtroom in the Vatican Museums, reports Dailymail.

One of the allegations is that a cardinal allegedly pushed an underling to lie to prosecutors, brokers and lawyers about a self-styled intelligence analyst named Cecilia Marogna who bought expensive Prada and Louis Vuitton items with the Vatican money.

She allegedly received 575,000 euros in Vatican funds meant for freeing captive priests and nuns abroad but Marogna — dubbed “the Cardinal’s lady” by the Italian press spent the money on luxury goods and hotels.

The cardinal in question who held a very powerful position and nine other people are accused of embezzling tens of millions of dollars in donations through bad investment deals with shady money managers, and apparent favours to friends and family and now face prison sentences, fines, or both if convicted.

The trial is the culmination of a two-year investigation into the Pope’s flawed 350 million-euro London real estate venture in the expensive Chelsea district that exposed the Vatican’s once-secret financial dealings and its structural dysfunction which led to the damage to the Vatican’s finances and reputation.  

However, it is even more incendiary is that the prosecutors suggest that Pope Francis and his top clergy were not only aware of some of the key transactions but in some cases explicitly authorised them when they did not have full documentation or understanding the details. 

Also, the Pope is the ultimate authority and his word is final and strict obedience is required of underlinings to their religious superiors, which is why many have questioned why some people were charged and others, not like a key suspect, Monsignor Alberto Perlasca, managed to avoid indictment. 

It must be noted that Pope Francis is an absolute monarch who wields supreme legislative, executive, and judicial power in Vatican City. 

According to the prosecution, Vatican’s top hierarchy, including Becciu’s boss and pope ally Cardinal Pietro Parolin, were in favour of the London venture, but unaware of its financial details.

(With inputs from DailyMail)

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