Former Vatican bank managers to go to trial in Italy

Anchorage Daily News

ROME — Two former top managers of the Institute for Religious Works, or IOR, the Vatican’s scandal-tainted bank, will go to trial over money laundering charges, Italian prosecutors said Friday.

Former IOR Director General Paolo Cipriani and deputy Massimo Tulli quit their positions in July, days after the arrest of a high-ranking Vatican prelate who allegedly used the bank to launder money on behalf of wealthy family friends.

Tulli and Cipriani are accused of having broken anti-money laundering law in connection to the transfer of $31.5 million from an account IOR held at a Rome branch of Credito Artigiano, part of Milan-based Credito Valtellinese.

The date for the start of their trial has yet to be set.

Italian authorities seized the funds in 2010, holding on to them for about one year.

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