VATICAN CITY — The trial of a once powerful Catholic cardinal and nine others resumes Tuesday at the Vatican over alleged financial fraud and a disastrous London property deal paid for with charity funds. Becciu was at the time number two at the Secretariat of State, the most powerful department in the Vatican’s central administration. The trial is unprecedented in going before a Vatican tribunal of three lay magistrates rather than a religious court, after Francis changed the law to strip cardinals and bishops of legal privileges. Risky investmentsAhead of the trial, prosecutors painted a picture of risky investments with little or no oversight, and double-dealing by outside consultants and insiders trusted with the financial interests of the Secretariat of State. Prosecutors allege Mincione used the money to invest in high-risk ventures over which the Church had no control.

Source: Philippine Daily Inquirer October 05, 2021 05:37 UTC