Vatican bank charged with money-laundering

[Ian David]

Source: PressTV

The Bank of the Vatican has been accused of laundering USD 200 million by proxy through an Italian creditor, a report indicates. The allegation of the Vatican bank's financial corruption has been made by an Italian magazine that pointed to the financial institute's purported involvement in stealth fiscal transactions —via several accounts —with Italy's UniCredit Bank, Russia Today television network quoted the Panorama magazine as reporting.

“This corruption is continuing on a regular basis in the Vatican,” claimed Janathan Levy, a lawyer familiar with the bank.

“Again, there's no reason for a religion to have a bank that does worldwide commercial activities, dealing in gold, dealing in insurance, dealing in property and then hiding behind the Roman Catholic Church," Levy pointed out.

<snip>

The British London Telegraph, has recently ranked the Bank of the Vatican ahead of the Bahamas, Switzerland and Liechtenstein in banking secrecy.

Read more: http://www.presstv.ir/detail.aspx?id=116924§ionid=3510213

---

[hedgehog]

1. Here's the problem : the nominal head of the bank is either a priest or bishop.

He doesn't understand banking, so it's easy for his underlings to hoodwink him. No bishop or priest in the Vatican will ever admit to not being expert at everything under the sun, so the people actually running the bank have free rein.

[peacetalksforall]

6. Design is not the same as execution. No financial center is going to authorize

a grand scheme without knowledge and approval from the top.

[DeSwiss]

7. "....the nominal head of the bank is either a priest or bishop. He doesn't understand banking."

From Wiki:

The Institute for Works of Religion (Italian: Istituto per le Opere di Religione – IOR) commonly known as Vatican Bank is located inside the Vatican City. It is run by a professional bank CEO who reports directly to a committee of cardinals, and ultimately to the Pope (or the Camerlengo of the Holy Roman Church during a sede vacante) http://en.wikipedia.org/wiki/Institute_for_Works_of_Religion">LINK.

I cannot agree with the idea that this "committee of cardinals" are all dupes who can't count. And they should all be able to add, subtract, multiply and divided. It would seem to be, to put it mildly, a conclusion reached based upon facts that are not in evidence, and likewise not supported in this article or any other source I can find. I would say that the idea that a priest isn't capable of understanding banking is the same kind of logic that allows for the refusal by many, to accept the idea that a priest can be a pedophile. And worse, that nothing should be done on their part about. Which of course only further enables them, and allows the pedophilia to continue. Which is applicable to http://en.wikipedia.org/wiki/Institute_for_Works_of_Religion#Controversy">their previous banking controversies and illegal actions from the past.

What is just as interesting to me is this part of the article:

“I had the privilege to walk inside this bank. It's nothing like a bank,” the Russian news channel quoted another lawyer, Massimiliano Gabrieli, as saying. “If you go there you deposit or withdraw money without limit, without any kind of receipt for the bank and for the client. All you have is a single card with a number,” he stated.

- It is time these thieves and liars are called to account. We defer too much on account of religion and every time we do, we pay a price for our willingness to believe their bullshit.

K&R

<---- This is the one in-control of the Vatican Bank.

[ronnie624]

13. *

:thumbsup:

[hedgehog]

26. Trust me, the Catholic Church places its finances in the hands of the clergy,

but I challenge you to find a single seminary that teaches basic accounting.

A "committee of cardinals" consists of a group of elderly men each by everyone around him how wise he is. The CEO comes in and makes a power point presentation. In a room full of your peers, all nodding wisely, who is going to raise his hand to say that doesn't understand.

The Diocese of Cleveland fired its chief book keeper for theft. He went down the road to Columbas and was hired.

http://www.catholic.org/national/national_story.php?id=22413

[Mithreal]

18. Not buying it

[rrneck]

28. Oh please...

http://en.wikipedia.org/wiki/John_Paul_the_Great_Catholic_University
John Paul the Great Catholic University is located in San Diego, California. It currently offers Bachelor of Science degrees in Communications Media, Business, and Technology, each with two or more concentrations offered. In fall 2009 the school began offering a Master of Business Administration degree with a concentration in Entrepreneurial Business, and a Master of Arts in Biblical Theology. JP Catholic - the university's shortened nickname - emphasizes its loyalty to the Catholic Church, and lists "impacting the culture for Christ" as one of its main goals. The university was named one of North America's "21 Catholic colleges and universities which most faithfully live their Catholic identity" by the Cardinal Newman Society and has consistently been listed in the Newman Society's "Guide to Choosing a Catholic College".<1><2><3>

http://www.mbaguide.com.au/programs.php?program=5333

Australian Catholic University
Faculty of Arts and Sciences
Master of Business Administration
Program Overview: The Master of Business Administration aims to build upon students' undergraduate study through examination of the key dimensions of business operational tasks and processes in an environment of rapid change. It is intended to enable students to:

* Understand management processes in organisations in the private and public sectors;
* Acquire a deeper knowledge of theoretical, conceptual and ethical issues applying to the business processes;
* Analyse, evaluate, and justify business processes in an changing environment;
* Develop business management skills for use in an employer organisation;
* Acquire research skills for use in employer organisations;
* Enhance effective people skills;
* Build and improve their leadership skills;
* Acquire strategic skills;
* Develop an international orientation; and
* Develop effective ethical understanding of problems in organisations.

Specialist strands in the Master of Business Administration are available in accounting, e-commerce, information systems, international business, marketing, people management and sports management.

http://www.mba-channel.com/schools/profile/catholic-university-of-eichstaett-ingolstadt-wfi/

The executive.mba is designed to cover all aspects of general management and focuses on all important elements of modern management. This includes the whole range of basics: e.g. controlling, accounting, staffing, finance and market positioning. Furthermore students are encouraged to deal with relevant personal, ethical and societal questions with respect to their managerial relevance.

http://www.learn4good.com/universities/university_degree_programs_usa3.htm

Founded in 1964, DeSales University is a private, four-year Catholic university for men and women, located in the Lehigh Valley, Lehigh County, Pennsylvania on a 400 acre campus.

...

Graduate Studies include Master of Business Administration (MBA), Master of Education (MED) among many others.

"Catholic university mba" gets 280,000 Google hits. I think the Pope could make his own good help if he wanted to.

[Soylent Brice]

2. K&R

[closeupready]

3. Not a surprise at all.

n/t

[MaineDem]

4. Again?

Or is it "still?"

[dixiegrrrrl]

9. Few years ago, that was a "conspiracy theory".

Not any more, I guess.

I would love to see a book about what the Vatican Bank has been doing over the years.

[LiberalFighter]

5. They are just making sure that when someone dies the money doesn't go with them.

[Xenotime]

8. Corruption at its finest

[madrchsod]

10. the holy roman church has always been a criminal organization....

led by the bishop of roman.

[Mopar151]

14. For the pedophile priest issue alone

The Boston Archdiocese should have been prosecuted under the Federal RICO (Racketeer Influenced Corrupt Organisation) statutes. The Cardinal is in Vatican City, in hiding from US authourities and lawsuits.

[mgc1961]

11. This story can't be true.

It's the Vatican, by God! :sarcasm:

[WilmywoodNCparalegal]

12. It's been known for decades that the Vatican Bank was a haven of corruption

and money laundering. If anyone is interested in 'conspiracy theories' that are actually probably true, read into the history of how Cardinal Wojtila was elected pope and all about his predecessor and his untimely death, as well as the "suicide" of Calvi at London's Blackfriars Bridge and other interesting happenings and Freemasons and the P2.

All this mess was even alluded to in The Godfather III.

[ensho]

15. kick

nt

[Dappleganger]

16. What would Jesus do

With all that money? He was poor as shit so we'll never know, now will we?

[struggle4progress]

17. So here we have Iran's PressTV (yesterday) indirectly quoting RussiaToday (Friday) indirectly

Panorama, which apparently quoted somebody as saying there had been an investigation

No other news sources available, as far as I can tell

[Ian David]

19. Oops. So this might not be accurate? n/t

[struggle4progress]

25. Well, but you already knew that, didn't you? I don't think the Vatican Bank

deserves any special treatment with regard to applicable banking rules, but a report -- with a headline suggesting charges have been filed, quoting Iranian media that indirectly quotes Russian media that indirectly quotes a story (that I can't find) from Italian media that supposedly said anonymous sources said there had been an investigation -- isn't worth much, except if your object is simply to waste time

[Ian David]

30. I will try to be less lazy next time. Thanks. n/t

[trotsky]

34. The Times reported it back in December.

http://www.timesonline.co.uk/tol/news/world/europe/article6946507.ece

[struggle4progress]

20. La ricerca di - vaticano unicredit - non ha prodotto risultati in nessun documento

http://news.google.com/news/search?aq=f&cf=all&ned=it&hl=it&q=vaticano+unicredit

[struggle4progress]

21. La ricerca di - source:panorama vaticano unicredit - non ha prodotto risultati in nessun documento

http://news.google.com/news/search?aq=f&cf=all&ned=it&hl=it&q=panorama.it+vaticano+unicredit

[Jim__]

22. I think I'm getting an error (in Italian) when I click on your link.

Or, is this trying to tell me something:

Cerca le pagine delle news che contengono +panorama.it vaticano unicredit

La ricerca di - source:panorama vaticano unicredit - non ha prodotto risultati in nessun documento.

Suggerimenti:

Assicurarsi che tutte le parole siano state digitate correttamente.
Prova con parole chiave diverse.
Provare con parole chiave più generiche.
Prova la ricerca negli archivi di Google News.
Prova Google Ricerca Blog.
È inoltre possibile leggere gli articoli di oggi nella home page di Google News.

[struggle4progress]

23. It's telling you that when you use Google News to search the Panorama site for

stories about the Vatican and UniCredit, nothing shows up

[Jim__]

24. Meaning that we can't find the original source for the story? - n/t

[struggle4progress]

27. I've made several stabs at it. Feel free to take a shot at it yourself

[Jim__]

29. That's OK. I just wasn't sure what the error meant. Thanks - n/t

[Blue Owl]

31. God will clean that filthy lucre

We'll make sure he gets it.

[Laura902]

32. Its not surprising that

the thieves of free-will and open-mindedness would also steal cash :dilemma:

[Javaman]

33. What was that about money changers? nt