Vatican fraud trial to resume with boost for prosecution -Breaking
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By Philip Pullella
VATICAN CITY/Reuters – After a prolonged break Tuesday, Vatican’s fraud and embezzlement trials resume after the Vatican has received two favorable rulings in related cases from Italian and Swiss courts.
The defendants in the trial are being accused of fraud, and other crimes, in connection with Vatican’s purchase in 2005 of luxury buildings in London. It cost 350 million Euros ($400M).
Tuesday’s hearing will be the sixth of the six since July’s trial began amid great fanfare. It’ll likely settle several other preliminary issues and the trial won’t start in earnest until February.
Giuseppe Pignatone, frustrated as the president of court, stated at the Dec. 14 hearing that he hoped to see the preliminary phase end soon in order for the hearings to be conducted more frequently.
After Pignatone had found fault in the initial investigation, four of the 10 original defendants were removed temporarily from the October indictment. Because the original investigation did not follow the correct procedure, Pignatone directed the prosecution to return to the case and question each of them again.
On Tuesday, the prosecution will reveal which charges they intend to drop or keep against each one of them.
The wrongdoing of all 10 defendants has been denied by the cardinal at one time.
Raffaele Minicione and Gianluigi Turzi, lawyers representing two Italian brokers involved in Vatican’s London investment have maintained their client’s inability to get fair trials in Vatican.
Mincione assisted the Vatican in making the initial investment of 2014. When Mincione allegedly cheated the Vatican in 2014, the Vatican turned to Torzi for help to regain control.
Mincione was charged by Vatican authorities with embezzlement of funds, fraud, and money laundering. Torzi was charged with fraud.
Two foreign courts gave the prosecution a boost this month. They ruled on cases related to the case and effectively dismissed defence claims about an alleged inequity for clients within the Vatican judicial system.
Torzi, who is fighting extradition requests from both Italy and Vatican regarding alleged financial crime allegations, is currently in London. The supreme Italian court rejected Torzi’s claims that the Vatican court was not credible in a published decision.
A request from Mincione for unblocking funds requested by the Vatican Prosecutors to be frozen during the ongoing trial was rejected earlier in January by a Swiss court. Mincione lawyers also mentioned what they claimed were flaws within the Vatican judicial systems.
Over 350 million euro was invested by the Vatican Secretariat of State into the London investment. According to reports, 100 million euros has been lost by the Vatican as it closes in on the sale.
Most prominent is Cardinal Angelo Becciu. He was an ex-deputy secretary of state and was fired by Pope Francis because of alleged nepotism. Becciu was the deputy secretary-general of state during the first phases of this deal.
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