The Vatican’s criminal tribunal convicted a former Vatican banking chief and his lawyer, who together were accused of embezzling more than 30 million euros from the sale of properties owned by the Holy See.
Angel Caloia, 81, and attorney Gabriele Liuzzo, 97, were sentenced to nearly nine years in prison each, according to the Associated Press. The court awarded roughly 23 million euros in damages to the Vatican bank, the Institute of Religious Works.
Both Caloia and Liuzzo have maintained their innocence.
Prosecutors said a scheme of embezzlement, misappropriation of funds, and money-laundering took place between 2001 and 2008. The suspects were accused of selling 29 properties at undervalued prices to offshore companies that then sold the properties at value, kicking back the difference to Caloia and Liuzzo.
Experts appointed by the Vatican court estimated that the sales cost the bank roughly 34 million euros and that Caloia and Liuzzo pocketed as much as 19 million euros for themselves.
Caloia’s lawyers said that they would appeal the sentence, arguing that Caloia had been acquitted of some of the accusations regarding “the majority of the properties.” The lawyers said that the sentencing took place “in a climate that was on the whole unfavorable to the defense” and criticized the Vatican’s “outdated legal system,” which they said fails to give defendants the same rights and protections that modern legal systems afford.
