Former head of Vatican bank guilty of embezzlement, money laundering
Caloia, who was president of the bank between 1999 and 2009, is the highest ranking Vatican official to be convicted of a financial crime
The former president of the Institute for Works of Religion (IOR) Angelo Caloia is seen during the first hearing of his trial at the Vatican, May 9, 2018. Picture taken May 9, 2018. Osservatore Romano/Handout via REUTERS
A Vatican court on Thursday convicted Angelo Caloia, a former head of the Vatican bank, on charges of embezzlement and money laundering and handed down an eight-year, 11-month jail sentence.
Caloia, who was president of the bank between 1999 and 2009, is the highest ranking Vatican official to be convicted of a financial crime.
