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Vatican bank directors who resigned on July 1 could face criminal charges

Catholic World News - July 15, 2013

Two former officials of the Vatican bank, who resigned 2 weeks ago, could face criminal charges for violating Italy’s banking laws.

Paolo Cipriani, who had been director of the Institute for Religious Works (IOR) since 2007, and his longtime deputy Massimo Tulli, allegedly failed to provide adequate information regarding large bank transfers. The two men announced their resignation on July 1 “in the best interests of the Institute and the Holy See.”

The IOR has been under heavy pressure from Italian banking authorities to provide better documentation for financial transfers, as a means of guarding against money-laundering.

An Italian judge is weighing the evidence against Cipriani and Tulli to decide whether they should be charged with any criminal offenses.

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