Today’s papal appointment (see below) may have very big repercussions on the Vatican’s financial dealings on all its forms – AIF (Financial Intelligence Authority), APSA (Administration of the Patrimony of the Apostolic See), IOR (Institute for Religious Works, commonly called the Vatican bank) and other bodies. Following news of the Gasperini appointment are two other items you might want to read for information on a big real estate investment deal in London that in many ways seems to have soured for the Vatican.
Our EWTN colleague Andrea Gagliarducci, in his traditional Monday post, has done a masterful job of presenting many aspects of the London deal and hopefully you can follow it all. Andrea posted his piece this morning. Just hours later the Holy See Press Office released a communiqué about the provisional release from arrest of one of the principals in the London deal.
As I have followed events linked to Vatican finances in recent months, I have had to smile, almost rejoice, at one important fact: All the efforts made by Cardinal George Pell when he was at the Vatican to try and clean up the finances and corruption and bad deals and hidden monies, etc, efforts that earned him many enemies in Vatican City and elsewhere, seem now to be bearing fruit. It seems that Pope Francis is actually embracing the Pell reforms and giving them new and powerful life.
POPE APPOINTS SECRETARY OF ADMINISTRATION OF THE PATRIMONY OF THE HOLY SEE
On Monday, Pope Francis appointed Dr. Fabio Gasperini as secretary of the Administration of the Patrimony of the Apostolic See (APSA).
Dr. Fabio Gasperini was born in Rome on October 17, 1961. He is an auditor and chartered accountant, and has a degree in economics and commerce. He has more than 25 years of experience in consulting and auditing services at leading financial institutions: banks, insurance companies, asset management companies, securities brokerage firms and financial companies.
Gasperini is currently chairman of the Board of Directors of EY Advisor S.p.A.; member of the EMEIA Executive Advisory Service Committee and of AIIA (Italian Association of Internal Auditors); European Head of the Banking and Capital Market sector and Italian Head of Advisory Services for the financial sector.
THE STATE OF THE ART OF VATICAN FINANCES
Andrea Gagliarducci attempts to put some order and sense in the multifaceted financial dealings of the Vatican, in particular a London real estate deal that seems to offer more questions than answers. Here is a link to his “MondayVatican” post in which he says he writes about “the state of the art of the Holy See financial issues.” http://www.mondayvatican.com/vatican/pope-francis-the-open-questions-on-the-financial-scandal
PROVISIONAL LIBERTY FOR OFFICIAL ACCUSED IN VATICAN REAL ESTATE DEAL
From the Holy See Press Office June 15: “The Office of the Vatican Promoter of Justice, at the outcome of the interrogation of Mr. Gianluigi Torzi as part of the investigation relating to the sale and purchase of the building on Sloane Avenue 60 in London, today granted provisional liberty to Torzi. As stated in the ordinance, signed by the Promotor of Justice, Prof. Gian Piero Milano, and his Deputy,Attorney Alessandro Diddi, the magistrates took note of what was deduced in an articulated memorandum delivered by Mr. Torzi as well as the numerous attached documents deemed useful for reconstructing the facts under investigation.”