VATICAN CITY, July 25 — A once-powerful Catholic cardinal and nine others stand trial at the Vatican this week in an embezzlement scandal that allegedly saw charity funds used in a ruinous London property venture.
Tuesday’s hearing is expected to be purely technical and the trial, held in a makeshift courtroom in the Vatican Museums, may be adjourned to after the summer break.It follows a two-year probe into how the Secretariat of State — the key department in the Vatican’s central administration — managed its vast asset portfolio and, in particular, who knew what about a disastrous 350-million-euro London investment.
The rest was for stock market investments, but Mincione used it for high-risk ventures. The Holy See, which had no control over where the money went, tried to pull out in 2018.Torzi was brought in and tasked with brokering the purchase of the rest of the building and cutting ties with Mincione — but he instead allegedly joined forces with him.
Mincione and Torzi were helped, prosecutors claim, by Enrico Crasso, a former Vatican investment manager, and employee Fabrizio Tirabassi, both of whom face a series of charges including fraud.
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