Vatican bank president in laundering probe is sacked
Friday 25 May 2012
The president of the Vatican bank was ousted yesterday after receiving a unanimous vote of no-confidence from bank overseers for having leaked documents and failed to do his job at a critical time in the Holy See's efforts to show financial transparency.
Ettore Gotti Tedeschi has been a polarising figure since he was named president of the bank, known as the Institute for Religious Works, or IOR, in 2009. He is under investigation for alleged money laundering by Italian magistrates, but the investigation isn't believed to have factored into the decision since the Vatican considers the probe to be motivated by outside political interests.
The Vatican said in a statement that the vote was taken because of Mr Gotti Tedeschi's failure to fulfill the "primary functions of his office". He has told prosecutors that he barely paid attention to the bank's works, showing up only two days a week while tending to his primary position as head of Spain's Banco Santander's Italian unit in Milan.
In addition, Mr Gotti Tedeschi was found to have leaked confidential documents to serve his personal and political interests, according to a person familiar with the investigation.
- 2 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 3 University student in court for allegedly covering housemates' food in window cleaner and spit
- 4 Ryan Gosling posts tribute to 'Ryan Gosling Won't Eat His Cereal' creator Ryan McHenry
Italian police 'reveal' what Jesus looked like as a young boy
Mysterious 'X-Files' sounds heard miles above the Earth
Garland shooting: Isis claims attack on Prophet Mohamed cartoon contest in Texas as its first action on US soil
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
General Election 2015: Photographic history of Bullingdon Club tracked down - including new picture of David Cameron in his finery
In defence of liberal democracy
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
£13676.46 - £16411.61 per annum + OTE: SThree: SThree Trainee Recruitment Cons...
£18000 - £22000 per annum + training: Ashdown Group: Business and Marketing Gr...
£20000 - £25000 per annum + Commission: SThree: Are you great at building rela...
£20000 - £22000 per annum + excellent benefits: Ashdown Group: Application Sup...