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December 9, 2014

Vatican investigates two former bank managers in embezzlement case

Jean-Baptise de Franssu, left, new president of the Vatican bank, outgoing President Ernst Von Freyberg, right, and Australian Cardinal George Pell, prefect of the Vatican Secretariat for the Economy, leave at the end of a news conference at the Vatican July 9. The Vatican said it will separate its bank's investment business from its church payments work to try to clean up after years of scandal, including allegations of money laundering and tax evasion.

VATICAN CITY - The Vatican City prosecutor has opened an investigation into possible embezzlement by two former top officials at the Institute for the Works of Religion, more commonly called the Vatican bank.

Published in Vatican