The long-running Vatican scandal has cost a cardinal his privileges. He is linked to ill-fated real estate investments through Credit Suisse.
The Vatican stripped Cardinal Giovanni Angelo Becciu of all his privileges, meaning Pope Francis effectively forced out the 72-year-old cleric. While the Vatican was mum on the reasons, Swiss portal «Kath.ch» cited cronyism as the reason.
Becciu was mired in controversy for years for his links to opaque London real estate dealings on behalf of the Vatican. The series of deals, which enlisted an Italian businessman with maintaining the properties, cost the Holy See a three-digit million sum.
Alms for Deals?
At least some of the funds landed at Credit Suisse, according to various media reports. The funds for the property deals came from funds allegedly embezzled from the church. A former Credit Suisse banker was tasked with managing the funds.
The investment is under financial investigation. A spokeswoman for Credit Suisse told «Kath.ch» that the Swiss bank isn't subject to the Vatican's investigation, and is otherwise cooperating with authorities as far as it can. Becciu denied wrong-doing, in an interview with Italian outlet «Domani» (in Italian).
