The trial of Angelo Caloia the former president of the Vatican’s Institute for the Works of Religion (IOR) – the so-called “Vatican bank” – ended in conviction and a nearly 12-year prison sentence. The Vatican court also convicted Gabriele Liuzzo, an Italian lawyer who counseled the bank, on the same charges. Gabriele Liuzzo's son Lamberto was convicted for helping launder money.
The Vatican Court sentenced Caloia and Gabriele Liuzzo to 8 years and 11 months of imprisonment for money-laundering and aggravated embezzlement. The two will also have to pay a € 12,500 fine. Lamberto Liuzzo was instead sentenced to 5 years and two months imprisonment and ordered to pay an € 8,000 fine.
