News Staff - December 16, 2023 - Business - Pope Francis Vatican Holly See Giovanni Angelo Becciu Sostituto - 885 views - 0 Comments - 0 Likes - 0 Reviews
DLNews' No One Above the Law'
An investment that turned sour, a multimillion-pound London luxury property investment has created one of the gravest scandals ever to emerge from the Vatican. Furthermore, this investment shed light on the Holy See's finances, which Pope Francis has been trying to clean up since taking control.
At a two-and-a-half-year trial in Vatican City's criminal court, prosecutors presented evidence of risky investments with little oversight and double-dealing by outside consultants and insiders. Ten defendants were involved - for the first time, including a cardinal.
Giovanni Angelo Becciu, 75, once one of the most influential figures at the Vatican and currently holding a position as 'sostituto'? in its Secretariat of State--essentially acting like papal Chief of Staff equivalent--received five a half-year jail sentence by judges for being arrested by Italian authorities for fraud related to sexual abuse cases in 2006. Walk-in privileges with Pope John Paul II gave Becciu access to exclusive meetings; some even dubbed him an unlikely candidate to succeed Pope!
According to the court verdict sheet, Becciu was found guilty of embezzling funds from purchasing a property on Sloane Avenue in London and money from selling other properties and land. He was also found guilty of transferring 125,000 euros from Vatican bank to a charity run by his brother in Sardinia (prosecutors allege), money laundering, and theft; Fabio Viglione stated that while Becciu respected this verdict, he will certainly appeal it.
This verdict marks the conclusion of an over 80 hearing trial held in a room dedicated to it at Vatican Museums with Pope Francis' portrait on display as wall art. Unfortunately, its outcome has been marred by procedural disputes as lawyers for the defense accused the investigation and trial process as chaotic and lacking due process, with several calls being made for its dismissal altogether.
But the judges needed to be more convinced. They pointed out that Italy's parliament guaranteed the Vatican's independence through legislation passed in 1929. Pope serves as supreme head of state and head of the Catholic Church. Holy See operates its own telephone system, post office, gardens, astronomical observatory, radio station, and banking system, as well as its own telephone network and post office service; nearly all supplies must be imported while no income tax is levied against its residents.
The Vatican relies on voluntary contributions from billions of Roman Catholics worldwide and earns interest on investments, generating its annual budget of about 1.3 billion euros. It operates its own police force and fire brigade as well as employs Swiss Guards responsible for the Pope's protection; has its public television channel, L'Osservatore Romano; its military fleet, including planes and helicopters as well as an army of diplomats - its Corps of Firefighters established in 1941 serves to protect crowds in St Peter's Square while responding to flood, earthquake, and civil defense emergencies as well. Other services provided include hospital care and pharmacies.
The editor: "This is proof once again. Let's ensure we stick to this principle in the United States."
"No One is Above the Law" declares a fundamental principle that asserts equality in accountability. This bedrock belief demands that individuals, irrespective of their stature or influence, be held to the same legal standards. It is an unyielding safeguard against corruption and tyranny, affirming that justice must prevail overpower. This unwavering tenet is a forceful reminder that in a just society, the rule of law reigns supreme, ensuring no one escapes the consequences of their actions.
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