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Vatican bank director and deputy resign amid scandal | Vatican bank director and deputy resign amid scandal |
(35 minutes later) | |
The director and deputy director of the Vatican bank have resigned following the arrest of a senior Italian cleric over corruption and fraud allegations. | The director and deputy director of the Vatican bank have resigned following the arrest of a senior Italian cleric over corruption and fraud allegations. |
Paolo Cipriani and Massimo Tulli offered to step down on Monday "in the best interest of the institute and the Holy See'', the Vatican says. | Paolo Cipriani and Massimo Tulli offered to step down on Monday "in the best interest of the institute and the Holy See'', the Vatican says. |
It comes three days after the arrest of Monsignor Nunzio Scarano. | It comes three days after the arrest of Monsignor Nunzio Scarano. |
The 61-year-old and two others are suspected of trying to move 20m euros ($26m; £17m) illegally. | The 61-year-old and two others are suspected of trying to move 20m euros ($26m; £17m) illegally. |
Monsignor Scarano, a priest from southern Italy, worked for years as a senior accountant for a Vatican department known as Apsa (the Administration of the Patrimony of the Apostolic See). | |
He has been under investigation by Italian police for a series of suspicious transactions involving the recycling through the Vatican bank of a series of cheques described as church donations. | |
The two other men arrested on 28 July have been named as Giovanni Maria Zito, who is described as an Italian secret service agent, and Giovanni Carenzio, a financial broker. | |
Ernst von Freyberg, the current president of the bank, will serve as its interim director, taking over from Mr Cipriani, a Vatican statement said. | |
A new position of chief risk officer would also be created to improve compliance with financial regulations. | |
Earlier in June, Pope Francis named a trusted cleric to oversee the management of the bank, which has been beset by allegations of money laundering for decades. | |
Officially known as the Institute for the Works of Religion (IOR), the bank is one of the world's most secretive. It has 114 employees and 5.4bn euros of assets. |