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