An investment fund created for the Holy See Secretariat of State to invest Church funds was used to purchase millions in debt products issued by companies, some with alleged mafia links.
The fall of Cardinal Angelo Becciu comes after nearly two years of reporting placing him at the center of several different, overlapping Vatican financial scandals.
Retired West Virginia Bishop Michael Bransfield told CNA Thursday that he is retired, wants to stay retired, and does not want to “do battle” with his successor, after Bishop Mark Brennan of Wheeling-Charleston called an apology from Bransfield, “self-serving” and “lacking in any contrition.”
The former Bishop of Hong Kong, Cardinal Joseph Zen Ze-kiun, has warned that the Church’s efforts to negotiate an extension to the 2018 provisional agreement with China are harming the evangelization of that country.
In an interview Wednesday, the chairman of the Federal Election Commission accused Catholic bishops of “hiding” behind the Church’s tax exempt status instead of backing political candidates, and insisted that priests and lay Catholics have a “right” to conduct political activity on parish premises.
A dramatic diplomatic maneuver from the Trump administration could strengthen Rome’s hand with China, and rebalance the relationship between all three powers. The pivot point is Taiwan.
The Italian businessman at the center of the Vatican’s London property scandal is asking a British court to rule that he acted in good faith. Lawyers for Raffaele Mincione are arguing that the Holy See is trying to nullify the deal, worth hundreds of millions of dollars, according to new reports.
While the last two years have failed to deliver any measurable progress on the Vatican’s priorities, the status quo of all-dialogue-and-no-delivery has strengthened China’s position over the Church.
The leader of the Diocese of Hong Kong has written to all the clergy telling them to avoid politics in homilies and admonishing them for “offensive” and “provocative” preaching.
The Holy See faces mounting criticism for its silence on human rights abuses in China ahead of the expected renewal of the controversial 2018 agreement. But is the Vatican’s silence strategic, and if so, is the strategy working?
Priests in the Archdiocese of Santa Fe have been warned that they could lose the faculty to preach if they give homilies longer than five minutes.
In the months before Gianluigi Torzi was asked by the Holy See to act as middle man for the final purchase of the London property at 60 Sloane Ave. from Raffaele Mincione, a company owned by Mincione secured a multi-million-euro loan from a company controlled by Torzi.
Cardinal Joseph Zen, the emeritus Bishop of Hong Kong, has made an impassioned defense of the Second Vatican Council, criticizing both “extreme conservatives” and “extreme progressives” for rejecting the authority and authenticity of the conciliar documents.
With negotiations ongoing for an extension of the 2018 Vatican-China deal, the fate of Vatican-Taiwan relations may prove inextricable from the future of the deal - and of the Church in China.
As the Vatican and China negotiate an extension of the controversial 2018 deal, the Diocese of Hong Kong is at the center of an ecclesiastical and diplomatic minefield.
While Catholic China watchers have long focused on the ongoing human rights crisis in the country, broader media attention has fallen on the issue just weeks before the controversial Vatican-China deal is set for renewal.
Vatican prosecutors, working with Italian authorities, have executed a search and seizure warrant against the Italian businessman Raffaele Mincione, the man responsible for the controversial investment of hundreds of millions of euros on behalf of the Holy See Secretariat of State.
The Holy See is facing a perfect storm of a massive income shortfall, months of financial scandal, and a looming international banking inspection.
Officials working in the Trump administration have told CNA that they have been frustrated by recent presidential tweets elevating controversial Catholic figures, saying the tweets undermine the work many Catholics in the administration hope to accomplish.
Cardinal George Pell has said that the Church’s spiritual mission is no excuse for bad management, and that financial corruption can pose a greater risk to clergy than sexual misconduct.