|Vatican Bank Readies Court Action over Funds
By Guy Dinmore
October 2, 2010
A dispute between the Vatican bank and the Italian judiciary over a suspected breach of anti-money laundering regulations is set to intensify. Rome magistrates are investigating the Pope’s two most senior bankers while funds belonging to the Holy See remain frozen by court order.
Vincenzo Scordamaglia, a lawyer representing the Institute of Religious Works, as the Vatican bank is formally known, said the bank would challenge the seizure of its funds if the funds were not released.
Papal observers said they could not recall a case of the Vatican, a sovereign state, seeking redress through the Italian judicial system and that the move reflected its sensitivity over the issue.
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