Vatican ‘Let Down’ by Financier Over Property Deal, Judge Says
- London court rules Mincione wasn’t dishonest or a fraudster
- Disputes centers on sale of Harrods warehouse for huge loss
St. Peter's Basilica in Vatican City.
Photographer: Giulio Napolitano/BloombergThis article is for subscribers only.
The Vatican was “utterly let down” by a financier over the purchase of a luxury London property that left the city state facing more than €100 million ($105 million) in losses, a London judge ruled.
Raffaele Mincione, who was previously convicted in the Vatican City over his dealings with the Chelsea property had turned to a London court in a bid to clear his name. On Friday, he successfully won a ruling that he couldn’t be considered dishonest or participated in a conspiracy, but the the judge refused to say that he acted in good faith.