Stealing from the Vatican

by | Jan 1, 2021

[xyz-ips snippet=”post-thumb-url”]

The Catholic Church is missing money—and the Pope is taking action.

Pope Francis is ordering the Vatican secretariat of state to transfer all its holdings to another Vatican office by February 4th. He also stripped the secretariat of its financial assets and all real estate holdings. 

This comes as the office is the subject of a corruption investigation accusing it of mismanaging hundreds of millions of euros in donations and investments. 

It all started when the office made a 350-million-euro investment into a luxury building in a ritzy London neighborhood. Prosecutors are accusing church members of bringing in several Italian men known for shady business dealings. 

The Pope’s move is a hard hit to the secretariat of state’s office. It was the most powerful Holy See office. But now, like any other department, it will have to propose a budget, which will be approved and monitored by others. 

The Holy See has taken a hit thanks to a drop in revenue from Vatican museums closing down. Not a good time to steal from the man upstairs.

Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

Never miss an update.

Click “Like” below to get my latest updates directly in your Facebook feed.



Popular Reports, Articles & Videos




Latest CBS Radio Reports


Top Articles

Top Videos

Brian's diverse experience and unique perspectives combine with his pleasant and personal manner to engage audiences on many levels. From his days as an Air Force squadron commander to his long career as a business journalist, commentator and public speaker, Brian's approach to speaking and presentation is thought-provoking, inspirational and creative.

"The Technology Tornado: Media & Communications in the Modern Era"

See highlights from Brian's recent Ernst & Young "Continuing Education Conference" speech and hear directly from conference attendees.

Phoenix Convention Center
August 28th, 2019

Additional speech samples / videos are available upon request. Contact Brian to learn more.