News24

Vatican Bank gets $33m back

2011-06-02 07:39

Vatican City - Prosecutors have released $33m seized from a Vatican Bank account last year in a money-laundering probe.

The Vatican newspaper L'Osservatore Romano said prosecutors released the funds after the Holy See passed new anti-money laundering and anti-terror financing laws to conform with EU and international norms.

Italian financial police seized the money in September 2010 as a precaution and placed the bank's top two officials under investigation, alleging the bank broke the law by trying to transfer money without identifying the sender or recipient.

The Vatican denied wrongdoing and said the investigation of the bank, known as the Institute for Religious Works or IOR, resulted from a misunderstanding. The officials haven't been charged.

Comments
  • Mike_L - 2011-06-02 09:23

    They were trying to rob Peter to pay Paul.

  • avocadoproducts - 2011-06-02 09:24

    i smell a rat

  • pages:
  • 1