Judge dismisses complaint against Vatican in swindle case

MISSISSIPPI
Catholic Culture

February 02, 2012

A federal judge in Mississippi has dismissed a complaint against the Vatican, brought by insurance commissioners in connection with an elaborate financial scheme conducted by a man who had no connection with the Holy See.

The insurance commissioners of Mississippi, Tennessee, Missouri, Oklahoma and Arkansas brought their complaint against the Vatican in 2002, after a man named Martin Frankel took funds from insurance companies in a complicated financial scheme.

Frankel, working under a pseudonym, claimed that he was a “financial advisor” to the Vatican, and set up a foundation which he claimed had the personal authorization of the late Pope John Paul II. With those bogus credentials he managed to manipulate insurance companies.

Note: This is an Abuse Tracker excerpt. Click the title to view the full text of the original article. If the original article is no longer available, see our News Archive.