Click here to advertise on CatholicCulture.org

Italian prosecutors quiz Vatican bank chief

Catholic World News - September 30, 2010

Italian banking investigators questioned Ettore Gotti Tedeschi, the head of the Vatican bank, at length on September 30.

Tedeschi and his top subordinate, Paolo Cipriani, spent 4 hour in a prosecutor’s office on Thursday. As they emerged, Tedeschi repeated his argument that a money-laundering investigation into the Vatican bank was based on a “misunderstanding” that could be quickly clarified.

The Vatican has expressed strong support for Tedeschi, and said that since he took control of the Institute for Religious Works (IOR) last year, the Vatican bank has moved quickly to comply with European regulations regarding transparency and proper documentation of financial dealings. Analysts in Italy have speculated that the investigation of $30 million in transfers by the IOR may be interpreted a sign that regulators want faster action to clean up the IOR records.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach five million Truth-seeking readers worldwide this year. Thank you!

Progress toward our April expenses ($19,750 to go):
$35,000.00 $15,250.48
56% 44%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Smaller Church, Bigger Faith, 3: Ecclesiastical Discipline April 17
The Holy Spirit and Evangelization: A Primer April 16
Journey to the Sun: A Strange Biography of Junípero Serra April 16
Russia's demographic recovery + US demographic decline = danger April 16
James Carroll strikes (at the Church) again April 16

Top Catholic News

Most Important Stories of the Last 30 Days