Italian daily newspaper Corriere della Sera reported that the Vatican is being investigated for money laundering. This comes in light of the fact that the Secretariat of State holds capital in Centurion Global Fund, which funded the recently released Elton John and Men in Black films.
According to the report, the Vatican’s Secretariat of the State owns at least two-thirds of the Centurion Global Fund. The Secretariat of the State is the “most important department” in the Vatican. It is also “the one closest to Pope Francis.”
The Catholic News Agency clarified that the Vatican is currently conducting investigations that comes in light of allegations that the Centurion Global Fund has “links to two Swiss banks.” These banks are being probed or implicated in various scandals including bribery and laundering. The scandals involve over $1 billion dollars.
A statement from the Vatican Press Office cited by Corriere della Sera said that “Investigations are in progress, and lines of enquiry which may help clarify the position of the Holy See… are currently being examined by the Vatican Judiciary with collaboration with the competent authorities.”
The newspaper also noted that the fund lost 4.61% (€2 million), which reportedly “ended up in executives’ pockets by way of commissions.”
The fund is managed by Enrico Crasso, a former banker at Credit Suisse, who is in charge of decided “where to invest the Pope’s money.” He has received a number of awards from the Secretariat of the State and from the pope himself. Moreover, he has received commissions amounting to millions.
While managing the fund, Crasso has funneled its money into various investments including real estate, bonds, shared and into other funds as well. The manager has raised €70 million through these ventures.
When asked about the matter, Crasso refused to make any statements.