Vatican City State, February 26th, 2018 - By decree filed with the clerk’s office Registry on February 24, 2018, and served upon the defendants on that date, the Tribunal of the Vatican City State – acting upon request of  the Vatican Promotor of Justice – has summoned to trial a former President of IOR and his legal counsel, charging them with embezzlement and self-laundering.
Under such charges, the unlawful conduct was carried out between 2001 and 2008 by, among others, the former General Director, now deceased, and resulted in the disposal of a considerable part of the Institute’s real estate assets. Overall damages have been assessed in excess of Euro 50 million.
The decision of committal for trial was taken at the end of an investigation which has been carried out since 2014 by the Vatican Promotor of Justice, following IOR’s complaint.
This important step shows once again the significant commitment that IOR’s management has undertaken in the last four years in order to implement strong and transparent governance, which complies with the most rigorous international standards. IOR intends to pursue by civil and criminal judicial proceedings any illicit activity carried out to its detriment, no matter where it occurred and who performed it.
In light of the foregoing, the Institute has decided to join a civil action to the criminal proceedings, due to start on March 15, 2018.