A former Vatican bank chief has been convicted of embezzlement and money laundering and sentenced to nearly nine years in prison.
Angelo Caloia, 81, was president of the bank – officially known as the Institute for Works of Religion (IOR) – between 1999 and 2009. A Vatican court on Thursday sentenced him to eight years and 11 months in prison after he became the highest. the Vatican official arranges to be convicted of a financial crime.
Gabriele Liuzzo (97) and his son Lamberto Liuzzo (55), both Italian lawyers who were consultants of the bank, were also convicted. The three are charged with participating in a scheme in which they embezzled money while managing the sale of Italian real estate between 2001 and 2008.
They allegedly spent tens of millions of euros by declaring much less than the true amount of the sale.
Gabriele Liuzzo was given the same sentence as Caloia, while Lamberto Liuzzo was given a sentence of five years and two months. Everyone denied crimes during the trial, which began in 2018.