The Vatican bank’s top two officials are under investigation for suspected money laundering and police have frozen 23 million euros ($30.21 million) of its funds, Italian judicial sources said on Tuesday.
They said President Ettore Gotti Tedeschi and director-general Paolo Cipriani were being investigated by Rome magistrates Nello Rossi and Stefano Fava in a case involving alleged violations of European Union money-laundering rules.
The Vatican confirmed the Rome magistrates’ action in a statement that expressed “perplexity and amazement” at the move and “utmost faith” in the two men who head the bank, officially known as Institute for Religious Works (IOR). It said the bank had committed no wrongdoing because it was transferring its own money between its own accounts.
The IOR primarily manages funds for the Vatican and religious institutions around the world, such as charity organisations and religious orders of priests and nuns.
Its cash point machines in the Vatican are perhaps the only ATMs in the world that allow clients to choose Latin as the language to perform operations.



Libyan leader Muammar Gaddafi’s attempt to convert dozens of young women to Islam during a visit to Italy led to an angry reaction from Italian media on Monday. The mercurial Gaddafi invited a large group of young women hired by a hostessing agency to an event at a Libyan cultural centre in Rome on Sunday and tried to convert them to Islam.
Press reports said three women had converted, but there was no way to verify if that was true. The event, due to be repeated on Monday, followed a similar reception involving some 200 women on a previous visit by Gaddafi to Rome last year.
(Photo: Professor Fabrizio Bisconti shows the image of an unidentified person on the ceiling of the catacomb chamber, with the four portraits of Apostles in circles in the corners of the ceiling, 22 June 2010/Tony Gentile)










