Lawsuit accuses Cardinal McElroy of fraudulently transferring assets to foil sex abuse liability
February 24, 2023
» Continue to this story on San Diego Union-Tribune
CWN Editor's Note: Earlier this month, Cardinal Robert McElroy announced that the Diocese of San Diego is considering bankruptcy.
In 2019, under Cardinal McElroy’s leadership, the diocese “transferred 291 properties into real estate holding companies,” according to the lawsuit. “The total tax assessed value of those properties is $453 million,” and “transferring the assets to the holding companies — one for each individual parish — lowered the potential amount of money the clergy abuse plaintiffs could receive from the diocese in any settlement.”
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