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Vatican Tribunal - © Vatican News

Vatican Court Issues First Money-Laundering Conviction

Italian Gets Two-and-a-Half Years in Jail

The State Court of Vatican City on December 17, 2018, issued a sentence of two years and six months imprisonment for the crime of money laundering against Angelo Proietti, an Italian citizen, holder of a current account at the IOR (Vatican Bank), also providing the confiscation of over one million euros that had been seized by the Vatican Authorities as early as 2014.

Proietti headed the construction firm Edil Ars, which did work for several government agencies and the Vatican. He has been on house arrest since being charged in 2016 of siphoning off more than $9 million euros from the company.

It is the first time that in the Vatican jurisdiction the offense foreseen by the art. 421-bis of the Penal Code. The investigation, which gave rise to the trial, is the fruit of the fruitful collaboration between the Office of Promoters of Justice, the Financial Information Authority (AIF) and the Vatican City Gendarmerie and the judicial cooperation of the Italian government.

The ruling of the Court takes on fundamental importance from the point of view of the system of prevention of money laundering and of countering the financing of terrorism developed by the State in recent years.

About Jim Fair

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