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Monsignor Nunzio Scarano held in Vatican bank inquiry | |
(35 minutes later) | |
A senior Italian cleric has been arrested in connection with an inquiry into the Vatican bank scandal over allegations of corruption and fraud. | |
Monsignor Nunzio Scarano works in the Vatican's financial administration. A secret service agent and a financial broker have also been arrested. | |
They are suspected of trying to move 20m euros illegally into Italy. | |
Pope Francis ordered an unprecedented internal investigation into the bank's affairs in the wake of recent scandals. | |
Monsignor Scarano has been under investigation by Italian police for a series of suspicious transactions involving the recycling of a series of cheques described as church donations through the Vatican Bank. | |
Earlier this month, the Pope named a trusted cleric to oversee the management of the bank, which has been beset by allegations of money-laundering. | Earlier this month, the Pope named a trusted cleric to oversee the management of the bank, which has been beset by allegations of money-laundering. |
Officially known as the Institute for the Works of Religion, the bank is one of the world's most secretive. It has 114 employees and $7.1bn (£4.6bn; 5.4bn euros) of assets. | Officially known as the Institute for the Works of Religion, the bank is one of the world's most secretive. It has 114 employees and $7.1bn (£4.6bn; 5.4bn euros) of assets. |
Pope Francis has given the commission carte blanche, bypassing normal secrecy rules, to try to get to the bottom of scandals which have plagued the bank for decades. | Pope Francis has given the commission carte blanche, bypassing normal secrecy rules, to try to get to the bottom of scandals which have plagued the bank for decades. |
Traditionally, the Vatican Bank has refused to co-operate with Italian authorities investigating financial crime on the grounds of the sovereign independence of the Vatican city state, says the BBC's David Willey in Rome. | Traditionally, the Vatican Bank has refused to co-operate with Italian authorities investigating financial crime on the grounds of the sovereign independence of the Vatican city state, says the BBC's David Willey in Rome. |
But Pope Francis has shown that he is now determined to get to the bottom of long-standing allegations of corruption and money-laundering by the bank, our correspondent adds. | But Pope Francis has shown that he is now determined to get to the bottom of long-standing allegations of corruption and money-laundering by the bank, our correspondent adds. |
The Institute for the Works of Religion was a major shareholder in the Banco Ambrosiano, a big Italian bank which collapsed in 1982 with losses of more than $3bn. | The Institute for the Works of Religion was a major shareholder in the Banco Ambrosiano, a big Italian bank which collapsed in 1982 with losses of more than $3bn. |
Its chairman, Roberto Calvi, was found hanging from Blackfriars Bridge in London - in a murder disguised as a suicide. Mr Calvi had close relations with the Vatican. | Its chairman, Roberto Calvi, was found hanging from Blackfriars Bridge in London - in a murder disguised as a suicide. Mr Calvi had close relations with the Vatican. |