Vatican judge blames cardinal and broker for failed real estate deal

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60 Sloane Avenue in London (Metrus)

60 Sloane Avenue in London (Metrus)

The cardinal was among 10 people charged with their alleged role in the London real estate investment flop that saw the Vatican lose millions of euros.
In addition to Cardinal Angelo Becciu, charges were brought against four other Vatican officials, as well as two State Secretariat officials and a broker, the Associated Press reported.

Broker Gianluigi Torzi allegedly extorted nearly $ 18 million from the Vatican in a deal to transfer London property at 60 Sloane Avenue in the Chelsea area. Torzi allegedly included a clause in the contract that would ultimately give his company ownership of the property.

He was arrested in June 2020.

The Vatican hired Torzi to wrest control of the property from the financial manager who handled the affairs of the Holy See. 2013 investments owned.

One of the arrested officials of the secretariat of state was the head of the cardinal’s administration at the time of the initial investment. The indictment alleges that an official of the secretariat of state spearheaded the acquisition and then intervened in the investigation. He denied any wrongdoing.

Pope Francis fired him last year for what the Vatican said was a separate issue related to donations from the Vatican to a charity run by his brother.

In the course of the investigation, the Vatican police raided the offices of several other officials, including the official who oversaw the activities of the Holy See. European asset portfolio during the transaction.

[AP] – Dennis Lynch



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