Article author:
Reuters
Vatican City — The Vatican City recently sold a luxurious London building at the heart of an ongoing corruption trial to Bain Capital for £ 186 million ($ 223.6 million). Told.
The losses from the transaction were covered by the Vatican's reserve fund, the Vatican said in a statement, adding that donations from followers of the fund known as Peter's Pence were not used.
The sale of the Sloane Avenue building in Chelsea, London marks a turning point in the stupid chapter of the Vatican's investment strategy.
The trial of 10 people, including the Cardinal, will celebrate its first anniversary later this month. All defendants denied cheating.
The Vatican State Department has invested € 350 million ($ 390 million) in the building, using a broker later accused of blackmail and other financial crimes to create a central real estate venture. It began.
The prosecution told the court in January that the total loss would exceed 200 million euros. Friday's statement did not give a definitive number of losses. (Report by Philip Pullella, edited by Giulia Segreti, Jan Harvey, Alex Richardson)
