NEWS: Director of Vatican Bank resigns under pressure

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FRIDAY, MAY 25, 2012

Director of Vatican Bank resigns under pressure

Since 2010, Gotti Tedeschi, together with the bankâ€™s director general, Paolo Cipriani, has been under investigation for alleged money laundering.

In the past, the Vatican Bank, which operates under the protection of the Vaticanâ€™s status as a sovereign nation, has been often accused of involvement in shady financial operations, such as money laundering for Italian politicians and even mafia bosses.

According to Giuseppe Di Taranto, professor of finance with LUISS University in Rome, in recent years â€œPope Benedict XVI has spearheaded an effort to bring more transparency to the Vatican,â€ seeking its entry into an international list of financially transparent countries. ...

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