Italian Court Keeps Block on Vatican Bank Funds

October 20, 2010

Oct 20 (Reuters) - An Italian court has rejected a request by the Vatican Bank to lift a block on 23 million euros of funds frozen in Italian banks in an investigation into suspected money laundering, judicial sources said on Wednesday.

Last month, Rome magistrates put the two top officials of the bank, formally known as the Institute for Works of Religion (IOR) under investigation and froze 23 million euros of its funds in two Italian banks over suspicions of money laundering.


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