Posted on 12/15/2019 7:04:58 AM PST by marshmallow
Millions in euros in Vatican bank cash are at stake in a Maltese court case, as lawyers for the Holy See are now asking the courts to prevent an investment firm from selling its assets to a Hungarian company
Millions in euros in Vatican bank cash are at stake in a Maltese court case, as lawyers for the Holy See are now asking the courts to prevent an investment firm from selling its assets to a Hungarian company.
God’s bankers were caught up in a “menacing web of intrigue and suspicious transactions” – lawyers for the Vatican’s bank claim – in an alleged €17 million ruse by Italian financiers who run Maltese investment firms.
The Istituto per le Opere di Religion (IOR), otherwise known as the Vatican Bank, says a committee it set up to invest €30 million of its cash was misled by the directors of Futura Investment Management – Alberto Matta and Girolamo Stabile – and their affiliated company in Luxembourg, Optimum Management.
Originally in 2013, the IOR set up a committee to decide on how to invest €30 million. The decision was to have Futura buy out a non-performing loan of €32 million from the owner of the Exchange Palace, and then convert that loan into an 84% share in the Hungarian company redeveloping the property.
But the IOR claims Futura made an undeclared profit of €11.6 million by duping the Vatican on the price of the Hungarian deal; and then by planning to sell Futura’s 90% stake in the Exchange Palace’s holding company, to Cougar Real Estate of Luxembourg, which is, in turn, owned by a Dubai firm.
Now the Vatican’s lawyers want to stop Futura from selling its shares in the Exchange Palace to Cougar.
(Excerpt) Read more at maltatoday.com.mt ...
The church would be well advised to avoid using the word “abuse” or “abusive” when trying to paint themselves as victims in anything.
I’m sure they want it back to feed the poor or something.
It is sad to see how the Vatican managed to totally destroy any respect it had. Liberalism - destroys everything it touches - even the Vatican.
“Millions in euros in Vatican bank cash”
Why does the Vatican have all of this?
Guess those few dollars into the “Poor Box” has been quite flush these many decades.
Guess all the world’s hungry have been feed, sick have been cured, homeless housed and heathens converted?
I knew that Jesus saves, but didn’t know that God had bankers.
God’s bankers? Seriously? 1 Timothy 6:10 “For the love of money is the root of all kinds of evil. By craving it, some have wandered away from the faith and pierced themselves with many sorrows”. This Pope love’s money, as the whole church does. Hmmm. God’s bankers? I don’t believe God needs a banker.
No kidding.
Immobiliare
Sending in a team of money changers to help no doubt
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