Vatican tribunal defends conviction of senior cardinal for misappropriation of funds

By Joshua McElwee

A Vatican tribunal on Wednesday defended its 2023 decision to convict a senior Catholic cardinal of misappropriation of funds, saying the prelate was "aware of all the steps" in a botched $200 million London real estate deal.

Cardinal Angelo Becciu, the most senior Church official ever to stand trial before a Vatican criminal court, was convicted last December on several charges and sentenced to five-and-a-half years in jail. He denies wrongdoing and remains free pending an appeal.

In a new 800-page filing to further explain the guilty verdict, the Vatican tribunal said Becciu inappropriately used Vatican funds and acted with "direct and personal intervention" to pursue the investment of a building at 60 Sloane Avenue, in an upmarket district of London.

"Becciu received all the necessary information … was able to evaluate with full awareness the developments of the situation …and decided to pay the very large sum of $200,500,000 in full violation" of Vatican procedures, stated the filing.

The document emphasised that the charge of 'peculato', which translates as embezzlement or misappropriation, does not necessarily imply the funds were used for personal benefit.

Becciu's lawyers said in a statement Wednesday that they would be reviewing the new filing, and that the trial demonstrated the cardinal's "absolute innocence".

The trial, which exposed infighting and intrigue in the highest echelons of the Vatican, lasted for 86 hearings over two-and-a-half years. It revolved mostly around the messy purchase of the London building by the Secretariat of State, the Vatican's key administrative and diplomatic department.

Becciu, then an archbishop, held the number two position at the Secretariat in 2013 when it began investing in a fund managed by Italian financier Raffaele Mincione. The Vatican later sold the London building in 2022, taking an estimated loss of about 140 million euros ($152 million).

Eight other defendants were also convicted by the Vatican tribunal in December on a range of charges. All deny wrongdoing and are pursuing appeals.

Becciu was made a cardinal by Pope Francis in 2018 and tasked with leading the Vatican's department for Catholic saints. But he was fired by Francis in 2020 for alleged nepotism, which he also denies.

The Vatican tribunal said on Wednesday that Becciu acted rashly in pursuing the London deal, ignoring the possible loss of the invested funds, which it said represented more than a quarter of the Secretariat's entire asset portfolio.

The word "risk" was used 150 times in a document from Mincione to Becciu outlining the deal, the filing said.

"Becciu is the perpetrator of the … crime of 'peculato'" said the filing. "There is no doubt that the investment … constituted an 'illicit use' of the resources of the Secretariat of State."

Mincione, who was found guilty by the Vatican court, has launched a lawsuit against the Vatican before the High Court in London.

He is asking that court to declare he acted "in good faith" in the investment deal. A verdict is expected later this year.