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Vatican Chases Millions in Effort to Stop Malta Fund from ‘Abusive’ Sale

Millions in euros in Vatican bank cash are at stake in a Maltese court case, as lawyers for the Holy See are now asking the courts to prevent an investment firm from selling its assets to a Hungarian company.

Millions in euros in Vatican bank cash are at stake in a Maltese court case, as lawyers for the Holy See are now asking the courts to prevent an investment firm from selling its assets to a Hungarian company.

God’s bankers were caught up in a “menacing web of intrigue and suspicious transactions” – lawyers for the Vatican’s bank claim – in an alleged €17 million ruse by Italian financiers who run Maltese investment firms.

The Istituto per le Opere di Religion (IOR), otherwise known as the Vatican Bank, says a committee it set up to invest €30 million of its cash was misled by the directors of Futura Investment Management – Alberto Matta and Girolamo Stabile – and their affiliated company in Luxembourg, Optimum Management.

Read more at Malta Today