2 Ex-vatican Bank Execs Convicted of Minor Offenses

Associated Press
February 23, 2017

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A Rome court has convicted two former top managers of the Vatican's scandal-marred bank for minor violations of anti-money laundering norms.

According to the ANSA news agency, the two were absolved of a more serious charge but were convicted Thursday of omissions in communications involving three small transfers and were sentenced to four months, 10 days each. Their lawyers plan to appeal.

Paolo Cipriani and Massimo Tulli resigned under pressure in 2013 from the Vatican bank - called Institute for Religious Works, or IOR. The bank's leadership had been under investigation since 2010 for allegedly violating Italy's anti-money laundering laws involving routine bank transactions.

The ruling comes a day after two other ex-Vatican officials who worked in the Vatican's patrimony office were put under investigation in a separate market-rigging probe.

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