Vatican criminal trial to shed light on failed Carige bank takeover | Reuters

ROME, July 19 (Reuters) – The thwarted takeover of a troubled Italian bank in 2018 will come into focus in a forthcoming Vatican trial that is tied to Pope Francis’s efforts to clean up Holy See finances after decades of scandals. Weakened by mismanagement and bad loans, Carige bank was placed under special administration by the European Central Bank in early 2019 after a failed attempt led by one of its main shareholders, Raffaele Mincione, to take control. Vatican prosecutors allege that Mincione bought a stake in Carige with embezzled money including funds raised from faithful Catholics and intended for the needy. They have indicted him and another nine people including a prominent Cardinal Angelo Becciu over a multi-million-euro scandal that also involves the Vatican’s purchase of a building in one of London’s smartest districts.

Vatican criminal trial to shed light on failed Carige bank takeover | Reuters

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