Home Christian News Banker Says He Warned Vatican About London Fund Investor

Banker Says He Warned Vatican About London Fund Investor

Crasso said he attended the meetings but had no real reason to be there since the negotiations were being handled by the two top in-house money managers of the Vatican.

Unbeknown to the Vatican at the time, Torzi structured the Gutt shares in such a way that his 1,000 shares were the only ones with the right to vote, meaning he controlled the building and the Vatican held virtually nothing.

According to previous testimony, Francis and the Vatican decided against suing Torzi for alleged fraud and agreed to pay him 15 million euros to finally get control of the property — a payout that Vatican prosecutors say amounted to extortion.

Crasso said there was no logic to prosecutors’ claim he was involved in the alleged extortion since he had only met Torzi for the first time a few days before the November 2018 meetings.

This article originally appeared on APNews.com.