Cardinal Pietro Parolin, Francis' Secretary of State, personally asked the Administration of the Patrimony of the Apostolic See (APSA) in 2014 for a €50 million loan to purchase the Catholic hospital IDI in Rome in order to save it from bankruptcy.
Parolin informed CatholicNewsAgency.com (November 20) about this. The IDI had incurred a debt of 800 million euros. Some of its former administrators, including a priest, were jailed for fraud.
Parolin's statement is likely a lie to cover for Francis, as Parolin is known for staying away from financial affairs.
The loan caused an inspection by Moneyval, the Council of Europe’s Committee for combating money laundering, as it violated regulatory agreements prohibiting APSA from making commercial loans.
As a consequence, Parolin devised a plan with Cardinal Wuerl to request the Papal Foundation to cover APSA’s bad loan.
Wuerl falsely told the Papal Foundation that the funds were needed to cover short term operating deficits. Despite objections, the grant was approved.
At the end, APSA lost €30 million in the operation. In addition to the APSA loan, the Vatican used 30 million euros diverted from Bambino Gesu hospital, taken from an 80 million euro grant by the Italian government.
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