Caloia was president of the bank known as Institute of Works of Religion (IOR) from 1999 to 2009. He and two lawyers who consulted for the bank were charged with embezzlement of money during the sale of Italian real estate owned by IOR between 2001 -2008. , which allegedly declares less than the actual amount of the sale.
The Vatican court also found the two lawyers guilty. Gabriele Liuzzo, 97, received the same sentence as Caloia. Liuzzo’s son, Lamberto Liuzzo, 55, was given a five-year, two-month term.
According to a Vatican press release, every man will also have to pay fines and have been banned from public office forever.
All three denied crimes during the trial, which began in 2018.
The Vatican Bank has long been plagued by financial scandals.
At the time, Becciu said he was accused of embezzlement and declared his innocence at a press conference after being effectively fired by Pope Francis.
In 2013, Pope Francis convened an expert committee to recommend reforms in the economic and administrative structures of the Holy See to combat the problem.