FINANCIAL

Vatican cleric arrested on £20million bank scam

FINANCIAL

Nunzio Scarano, accused twice of Vatican financial misdeeds.

A top Vatican official. A private plane. and £20million in cash.

That was the topic of the weekend as Italian police arrested not one, but three individuals in a £20million Vatican bank scam that left the troubled Catholic state with accusations that its been sneaking money into Italy for its high powered friends — to avoid Italy’s high tax rate. Italian authorities tell Daily News that prelate and two other individuals were arrested after this had initially been discovered throughout a three year long investigation.

Daily News reports: Vatican rocked by Rent Boy scandal

Police also confirmed that along with the three initial individuals, a military secret service agent deployed into Italy and a financial broker had also been arrested on suspicion of sneaking money into Italy beyond means of the Italian government. Rome prosecutors said as the weekend kicked into gear, that the money had originated from Locarno Switzerland and had made its way to Italy by way of private plane.

Ever since Pope Benedict XVI — The Vatican has been on a mission to make itself appropriate to the EU law so it can begin to use the euro inside of its bank. However, investigations continue.

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About Derick Jacobs

Derick Jacobs
Hi, I'm Jacobs. My favorite colour is purple, I'm English, and I love to read books. I'm slightly a geek, and that's kind of why you're reading this. Follow me on Twitter @BendellDNO

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