Vatican City, Oct 30, 2019 / 04:01 pm (CNA).- Cardinal Angelo Becciu has denied any impropriety in a real estate investment made with Vatican funds and insisted that he only acted in the best interests of the Holy See.
In an interview with Italian media published Tuesday, the former deputy at the Holy See’s Secretariat of State rejected any wrongdoing in the authorization of a $200 million property deal to develop a building in London.
Responding to what he called “slanderous charges” that he had “played with and tampered with the money of the poor” in the 2014 transaction, the cardinal defended the investment, saying it was “accepted practice.”
Speaking to ANSA, the cardinal said “My conscience is clear and I know I have always acted in the interest of the Holy See and never in my personal one. Those who know me well can attest to that.”
Becciu served as “sostituto,” or second-ranking official at the Secretariat of State from 2011-2018, when Pope Francis named him a cardinal and moved him to the Congregation for the Causes of the Saints.
The interview came in response to media coverage of an ongoing investigation by Vatican criminal and financial authorities into a 2014 $200 million investment made through Athena Capital, a Luxembourg investment fund, which financed a stake in the development of a luxury apartment project in London.
Details of the investment were first reported by the Financial Times earlier this month. The money was taken from Swiss bank accounts under the control of the Secretariat of State and kept separately from other curial accounts held at the Vatican.
The London investment, along with a nearly $50 million 2018 investment in the same property, has raised questions about the internal control of Vatican money held in international banks and investment vehicles, especially after repeated efforts to bring financial practices into line with international practices and standards.
On Tuesday, Vatican Secretary of State Cardinal Pietro Parolin said the investment was a one-off, and the fund in question appeared to be “well managed.” He said that he was working to clear up questions about the project.
“We are working to clear up everything. This deal was rather opaque and now we are trying to clear it up,” Reuters quoted Parolin as saying.
Becciu told ANSA that there is a difference between Vatican funds intended for the benefit of the poor and the proceeds of the annual Peter’s Pence collection taken up in every parish in the world and sent to Rome.
“It is accepted practice for the Holy See to invest in property, it has always done so: in Rome, in Paris, in Switzerland and also in London,” Becciu said, insisting that the deal was “regular and registered according to law.”
“In the Secretariat of the State we had a fund entitled ‘money of the poor’. And it was destined for the poor. If, on the other hand, for money of the poor they want to refer to Peter’s Pence, we have to clarify,” Becciu said.
“The Pence is not only for the pope’s almsgiving but also the funding for his Pastoral ministry,” Becciu said, suggesting that the Secretariat’s two investments in the luxury apartment development were an appropriate use of donated funds.
Becciu did not address his reported involvement in other complicated Vatican transactions during the interview.
On Oct. 29, CNA reported that Becciu was involved in a complicated series of events and financial transactions around the purchase of the Istituto Dermopatico dell’Immacolata (IDI), an Italian hospital that collapsed in 2013 under 800 million euros of debt through theft and fraud.
As sostituto, sources told CNA, Becciu was the “driving force” behind requests for a $25 million grant from the U.S. based Papal Foundation, ostensibly to supply short-term liquidity to the hospital, but actually intended to help remove a 50 million euro bad loan from the books at the Vatican’s central bank, APSA.
While the balance of the grant was cancelled after pushback from Papal Foundation board members, $13 million dollars was initially sent to the Secretariat of State, though how the money was used has not been reported.
Becciu told CNA that although he had been involved in the purchase of the IDI by a partnership created by the Secretariat of State, “Cardinal Parolin assumed the office of Secretary of State [in 2013] and I no longer concerned myself with IDI.”
In early 2019, Cardinal Parolin, wrote to the Papal Foundation saying the $13 million would be reclassified as a loan, rather than a grant, and would be repaid.
Two sources within the Papal Foundation told CNA that the Vatican has proposed the loan be repaid through “discounts” applied each year to the list of grants requested of the Papal Foundation by Vatican offices and Catholic apostolates.
“The poor will end up paying the debt,” a source close to the Papal Foundation told CNA.
Becciu’s role in authorizing the $200 million investment, and the potential focus on his time at the Secretariat of State by Vatican investigators have placed his tenure there under renewed scrutiny. While there, he was responsible for the cancellation of an external audit of all curial finances, intended to centralize information and details of Vatican assets and funds held away from the Vatican and unavailable for scrutiny.
On October 1, Vatican prosecutors raided the Secretariat of State’s offices. Documents and devices were seized. Although the Vatican did not indicate what exactly had prompted the investigation, subsequent reporting has indicated the London property investment and Cardinal Becciu were being looked into.
The next day, a confidential memo was leaked announcing the suspension of five Vatican employees, including two officials: Msgr. Mauro Carlino, who oversees documentation at the Secretariat of State, along with layman Tomasso Di Ruzza, director of the Vatican’s Financial Intelligence Authority (AIF). Di Ruzza was subsequently cleared to return to work following and internal AIF investigation.
Becciu’s interview came two days after the same paper reported that Italian Prime Minister Giuseppe Conte had been hired to consult on the deal in May, 2018, just weeks before taking office.
Conte has since distanced himself from the Vatican-backed deal and ensuing investigation.
On Monday, his office released a statement in response to the FT’s story saying “it should be noted that Mr. Conte only gave a legal opinion and was not aware of, and was not required to know, the fact that some investors were connected to an investment fund supported by the Vatican and now at the center of an investigation.”
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I am seriously considering celebrating Earth Day by turning on every light in the house.
Ditto.
Something seems well, perhaps not quite rotten, not yet, though somewhat fishy in the State of Denmark. Has the Pontiff consulted with Jeffrey Sachs? “Adversity must spur us, must push us to innovation, invention, to seek new paths”. What new paths? Population control is a current theme of the Dicastery for the Laity, Family and Life. Jeffrey Sachs Columbia Univ Professor, former Director for the Earth Institute at Columbia U and invitee member of the Dicastery by prefect Cardinal Kevin Farrell is a global theorist on ecology and emissions containment, climate change, global economy. A strong advocate for abortion, abortifacients, all forms of birth control for population limitation to save the planet. “God always forgives, we men forgive from time to time, nature no longer forgives.” Now let’s get things straight. From whom do we seek forgiveness? God alone forgives the penalty of sin. Following repentance. Man forgives the debt owed another. Nature forgives nothing. Because Nature is not a conscious being. A forgiving Nature is purely conceptual. An idolatrous, false worship, say of a Pachamamma. Now the Vatican staged an heroic rescue of the goddess from drowning in the Tiber. Wrapped in woolen garment clutched to his breast His Holiness restored her to her pedestal. What is a poor country priest to think? Earth Day cannot, must not be envisioned as comparable to the ancient worship of Gaia [Gaea in original Gk].
I have never detected any evidence that any committed secular narcissistic neophiliac is capable of self-doubt let alone a committed secular narcissistic neophiliac who happens to be a pope. Were he to muster up some humility and religious faith, he might consider the possibility of providential intent in climatic adaptations, independent of human existence, that occur naturally as they have for as long as our planet has spun into its existence by our Creator. But I have little faith that anyone in his proximity will even muster sufficient testicular fortitude to plant the idea in his head to consider this.
Austin Ruse advised us to celebrate Earth Day by throwing garbage in the Recycling Bin, and leaving candy rappers about. Make “Mother Earth” cry.