A bust in the Vatican, a controversial real estate project in London, secret accounts, and a mob of hunters, the light into the darkness to bring – sounds like a Hollywood script. And yet a true financial Thriller is on the horizon with these elements, has not alarmed just the Curia in Rome.
The RAID took place at the beginning of October in the state Secretariat of the Vatican, computers and documents were seized, five Curia employees free. The subject of an investigation. the Pope Francis has been engaged with the Italian investigating magistrate Giuseppe Pignatone a renowned and prominent mafia hunter.
Credit Suisse organised Meetings in
In the center of the action, the real estate project, 60 Sloane Avenue is in the London district of Chelsea, one of the most expensive addresses in the British capital. Involved in the luxury property of the Vatican and the Italian investor Raffaele Mincione are. He is in Switzerland, not Unknown. Recently, he has Badrutt to the Russian businessman Georgi Bedschamow a share of 33 per cent at the Nobel hotel’s Palace, bought in St. Moritz.
Has been used for the investigation of a mafia hunter: Pope Francis. Photo: Corbis/Getty
As a mediator between Mincione and the Vatican is the second-largest Swiss Bank served: Credit Suisse has organized according to the "Financial Times" in 2012, a first Meeting in the London office at Canary Wharf between Mincione, and a representative of the Vatican. Minciones company confirmed to the British newspaper that Credit Suisse had advised the Vatican in all Deals with his funds. Originally, it was a risky oil project in Africa, but Mincione advised of it. Instead, he offered later, a 45-percent stake in the former Harrods real estate 60 Sloane Avenue, which he had bought in 2012 for 129 million pounds to build 49 luxury apartments. 2014 transferred to the Vatican about $ 200 million from Swiss Bank accounts of Credit Suisse and the BSI in Lugano Luxembourg investment Fund Athena Capital. This is controlled by Mincione.
So far, nothing Illegal. However, Mincione invested only £ 40 million out of his own pocket, took out a loan with Deutsche Bank of 75 million pounds, and left before the partial sale of the Vatican and the plot to re-evaluate. Now the property was 137.6 million pounds value. The Vatican is expected to have paid around £ 61 million for its 45-percent share. The rest of the amount landed in a specially for the Vatican decorated by Mincione-controlled Fund. The Italians suffered in the hedge Fund industry-standard 2 percent management fees and 20 percent of the profits. In addition, the Vatican funds were used to purchase bonds of the Holding company Minciones.
Swiss money laundering specialist, raised the Alarm
in 2016, it found the building permit for the Apartments. But Yes, the British to the Brexit was sagging, the London real estate prices by 10 per cent. Therefore, the owner had to take out for the purpose of refinancing a loan of 100 million pounds at the London hedge Fund Cheyne Capital. In November 2018, the Vatican urged that the share of 55 percent, owned by Mincione. The Vatican also took the credit of 100 million pounds. Therefore, the state needed the Secretariat more money and asked the Vatican Bank Istituto per le Opere di Religione, a high sum for the entire transaction.
How many of the commissions and fees he have a stroke? Investor Raffaele Mincione. Photo: PD
the Bank, controlled by the Vatican's financial Supervisory authority, under the leadership of the Swiss money-laundering specialist Rene bruelhart, refused the financial help and raised the Alarm. So it came to the investigation, which is still running, as Secretary of state, cardinal Pietro Parolin, the number two in the Vatican confirmed this week.
hundreds of millions of dollars to Swiss secret accounts store
a number of questions are unclear: Are the 200 million, of which the Vatican Bank and the financial Supervisory authority had no knowledge of black money? Were donations from the so-called Peter's pence are used, which are actually meant for the Poorest of the world? The profit of Fund managers Mincione was around 120 million pounds? What in addition to business progress? How many of the commissions and fees paid by the Vatican to Mincione? It is true that the property in London was financed through loans with short-term, and to pay the Vatican for three years of interest payments, as the Catholic news Agency wrote? Has concealed cardinal Giovanni Angelo Becciu, the approved the real estate deal, these loans?
Approved of the dubious real estate deal: cardinal Giovanni Angelo Becciu. Photo: PD
The investigation also seeks to clarify the role of the Credit Suisse Acted only as a mediator? Or has the real estate deal in London structurally with the pipeline? A spokeswoman for the Bank says that Credit Suisse was "the subject of the Vatican's investigation and run your banking business in compliance with all laws, rules and regulations". Further details could not make the Bank.
The Secretariat of state as a Quasi-government of the Vatican values seems to be of the internal oversight non-controlled assets. The "Financial Times" speaks of $ 800 million. The Vatican had, in the past decades, often the Swiss banking contacts. The Vatican Bank has no foreign branches and correspondent needs of banks. In 2013, Monsignor Nunzio Scarano was caught in the attempt of the Locarno from EUR 20 million to smuggle in cash in a private plane to Italy. In his book "original sin," reported the Italian author Gianluigi Nuzzi, the Abbess of the Birgit tenor dens in Lugano, Tekla Famiglietti, the paid on accounts and sub-accounts of the Banco di Lugano, millions of sums of money in cash.
The former General auditor of the Vatican, Libero Milone, reported in this week from secret accounts in Switzerland. Already at the time of his assumption of office in 2015, he had discovered "several Hundred million dollars in Swiss Bank accounts," said Milone. "Internally, there were no documents relating to the accounts." The auditors complained that his education efforts were internal to "disabled". Milone resigned in June 2017, after he had been calculated from the meanwhile, the cardinal carried Angelo Becciu under pressure and accused of espionage set. Becciu has to be justified as the main person responsible for the London real estate deal these days all of the cash flows. It is "accepted practice that the Vatican in real estate in Rome, in Paris, in London and in Switzerland invested".
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Created: 09.11.2019, 20:06 PM