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Vatican bank asks Italian court to release frozen funds

Catholic World News - October 07, 2010

The Vatican bank, the Institute for Religious Works, has asked an Italian court to release the €23 million in funds that have been frozen by Italian banking authorities in connection with a money-laundering investigation.

The Vatican’s appeal to an Italian court may be unprecedented. Financial Times notes: “Veteran Vatican observers said they could not recall a previous case of the Vatican, a sovereign state, seeking redress through the Italian judicial system.”

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