Pope Francis Strips Powerful Vatican Office of Its Financial Assets
Pope Francis has stripped the Vaticans most powerful office of its significant financial assets, the Vatican said Monday, after dubious investments squandered millions of euros in church donations, sparking an embarrassing scandal and prompting an ongoing corruption investigation.
A new law enacted by the pope orders the secretariat of state, the diplomatic and administrative arm of the Holy See, to transfer all its financial holdings and real estate assets to another office, the Administration of the Patrimony of the Apostolic See, which administers the Vaticans finances, by Feb. 4.
The changes, included in a law made public Monday, follow a Vatican investigation into the mismanagement of funds at the secretariat of state.
One of the most prominent investments made by the secretariat of state involved the purchase of a London property that was bought in part with money donated by the faithful.
At: https://www.nytimes.com/2020/12/28/world/europe/pope-francis-vatican-finances.html
Pope Francis confers with Vatican Secretary of State cardinal Pietro Parolin.
The powerful Secretariat of State - whose leader is often referred to a "deputy pope" - will be under investigation for alleged mismanagement of billions in investment funds.
procon
(15,805 posts)If the church is so flush with real cash asserts that they can dabble in the real estate market and send millions gambling in financial investments, how are they any different than a multi billion dollar mega corporation?
Start with no taxes. This is the biggest, longest running scam in history. What do all those poor people get when they add their hard earned pennies to the collection bucket?
sandensea
(22,850 posts)shrike3
(5,370 posts)Religion forum. Better place for your comment and or the kind of discussion you'd like to have.