Angelo Caloia, the former President of the Vatican Bank, the bank’s lawyer Gabriele Liuzzo, and his son Lamberto who were convicted yesterday, used a simple method to steal.
They sold 29 properties belonging to the bank under price, often to themselves and then appropriating the difference.
The public prosecutor assessed a shortfall of €57 million. An estimate made by the Vatican Bank and the Vatican’s property management company was higher.
Before the trial, Caloia and Liuzzo offered a plea bargain of around €13 million. It was rejected.
At the final indictments the plaintiffs asked for a provisional compensation of “only” €35 million which in their opinion, could be unquestionably attributable to embezzlement.
However, at sentencing, the judges ordered Caloia and Liuzzo to pay back just over €24 million.