Vatican Bank Chief Ousted After Money-Laundering Scandal
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The Vatican bank, whose reputation took a blow over an investigation into money laundering, has fired Chairman Ettore Gotti Tedeschi after a tenure stained by a financial scandal.
In a vote of no-confidence, the board of directors unanimously agreed to remove Tedeschi, a Banco Santander SA banker who took the job in 2009, from his post for failing “to carry out various duties of primary importance,” according to a statement yesterday by Vatican spokesman Federico Lombardi.