What happened?
the financial irregularities which Cardinal George Pell tried to resolve have persisted, according to sources who spoke to the National Catholic Register.Cardinal Pell reportedly found that APSA, which handles the Vatican’s financial and real estate assets, was moving large sums through offshore accounts.
Why was it under-reported?
in short, financial news is very hard to make interesting – being both complex and filled with unanswered questions. But there is a lot to ask questions about. Cardinal Pell’s inquiries into APSA were deliberately blocked, according to the Register’s sources, who said there was “highly irregular” financial activity which never came to light. But Tommaso di Ruzza, head of APSA’s then regulator, said there were no “illicit accounts”.
Cardinal Pell also reportedly thought property investments were made without proper transparency.
What will happen next?
it seems unlikely that these issues will come to the surface any time soon. Cardinal Pell is serving a prison sentence in Australia after being convicted of sexual abuse – a verdict he contests and which is currently being considered by appeal judges. Libero Milone, the Vatican’s first and last auditor general, also tried to shed light on the financial situation, but left after two years, claiming that he had been forced out by an “old guard”.
Vatican officials remain tight-lipped, and did not speak to the Register for the story.
