Vatican Judge Indicts Cardinal, Broker In Failed Real Estate Deal

60 Sloane Avenue in London (Metrus)

A cardinal was among the 10 defendants for her alleged role in a failed London property investment that lost millions of euros to the Vatican.
In addition, according to the Associated Press, Cardinal Angelo Becciu, four other Vatican officials, as well as two State Secretariat officials and a broker, were charged.

The realtor, Gianluigi Torzi, allegedly extorted nearly $ 18 million from the Vatican to hand over a London property at 60 Sloane Avenue in the Chelsea neighborhood. Torzi allegedly put a clause in a contract that ultimately gave his company ownership of the property.

He was arrested in June 2020.

The Vatican hired Torzi to wrest control of the property from an asset manager who handled the Holy See’s 2013 investment in the property.

One of the State Secretariat officials arrested was the Cardinal’s chief of staff during this initial investment. The indictment alleges that the State Secretariat official led the takeover and later intervened in the investigation. He denied any wrongdoing.

Pope Francis fired him last year because the Vatican said it was a separate issue that involved donations from the Vatican to a charity run by his brother.

The Vatican Police raided several offices of other officials in the course of their investigation, including the officer overseeing the Holy See’s European portfolio of assets during the transaction.

[AP] – Dennis Lynch

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