ROME—, closing a chapter in the long-term cleanup of its finances.
The court said that Angelo Caloia and his lawyer, Gabriele Liuzzo, had manipulated sales of the scandal-plagued bank’s real-estate assets for their own profit from 2001 to 2008. Mr. Caloia, who is 81, and Mr. Liuzzo, 97, whose trial began in 2018, were each sentenced to 8 years and 11 months in prison. Mr. Liuzzo’s son Lamberto Liuzzo, 55, was sentenced to five years and two months in prison for his part in the scheme. The men were also ordered to pay the bank €23 million in compensation.
None of the men were present in court for the sentencing. An attorney for Mr. Caloia, Domenico Pulitanò, said he would appeal. Lawyers for Gabriele and Lamberto Liuzzo didn’t immediately respond to requests for comment., Vatican prosecutors accused Mr. Caloia and his lawyer of causing losses of more than €50 million for the bank, officially known as the Institute for the Works of Religion.
The VCS does not have a domestic tax base and is spending tax exempt revenue as foreign government operating revenue. Does this violate tax exempt status & enable tax evasion money laundering trusts? If so, I predict that it will be the largest tax issue in U.S. & world history.
This is the modern version of Luke 16:1-13 where the manager was caught surcharging the master’s customers and pocketing the overage.
Look again I'm shocked!
DemopJ lol, the plot of the 3rd Godfather movie centered around the Vatican's well-known financial shenanigans. Not that I, uh, recognize the existence of that movie.
Tax evaders accuse banker of embezzlement
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