Former Vatican bank managers found liable for mismanagement

[Eugene]

Source: Reuters

#WORLD NEWS FEBRUARY 6, 2018 / 4:32 PM / UPDATED 2 HOURS AGO

Former Vatican bank managers found liable for mismanagement

Reuters Staff
2 MIN READ

VATICAN CITY (Reuters) - Two former senior managers of the Vatican bank have been found liable for mismanagement and ordered to pay damages by the city state’s court, the bank said in a statement on Tuesday.

The ruling was the result of civil legal action launched by the bank in 2014, the year after the election of Pope Francis, who has prioritized cleaning up Vatican finances and breaking with the bank’s murky past.

The spiritual home of the world’s 1.2 billion Roman Catholics has been praised for making progress in financial regulation, but urged to deal more aggressively with people suspected of crimes like money laundering and step up prosecutions.

The bank, formally known as the Institute for the Works of Religion (IOR), did not name the former managers.

It did not give any details of the type of mismanagement or the value of the damages.

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Read more: https://www.reuters.com/article/us-vatican-bank/former-vatican-bank-managers-found-liable-for-mismanagement-idUSKBN1FQ33R

[Pope George Ringo II]

1. Get between the RCC and its money, pay the consequences.

There's nothing they take as seriously as their money.

[Act_of_Reparation]

2. There's at least one thing.

And it is costing them a lot of money.

[Pope George Ringo II]

3. Yes, well, that's their idea of fun. Nothing serious about it.

If there was, the kids would come forward, right?

[MineralMan]

4. Not surprising, since they're human:

From one of the least-read books of the New Testament

1 Timothy 6:10 King James Version (KJV)
10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.