UK court backs Vatican, refuses to say London financier acted in 'good faith' in property deal
A British court on Friday largely backed the Vatican and refused to declare that a London-based financier acted in 'good faith' in his dealings over the Holy See's 350-million euro (US$375 million) investment in a London property.
The British High Court said the Vatican 'had reason to consider itself utterly let down' in its experience with Raffaele Mincione, who had managed the money-losing investment for the Holy See for a number of years before another financier took over.
Mincione had sought the ruling in a bid to clear his name in the British courts after he was convicted by a Vatican criminal tribunal in December 2023 for his role in the property deal. He had asked the British High Court to declare that he acted 'in good faith," among other requests.
The court granted a number of Mincione's claims and rejected some of the Vatican's allegations against him. But in the ruling, Judge Robin Knowles said that 'on the evidence I heard at trial, the State (Vatican) had reason to consider itself utterly let down in its experience' with Mincione.
Mincione and his companies 'made no attempt to protect the State (Vatican) from fraudulent bad actors. They took no care towards the State and they put their own interests first. The State expected more from professional counterparts, in Mr Mincione and others,' the court found.
Mincione and his lawyers claimed victory, saying the majority of their other claims were accepted by the court.
'It is a relief that, after years of being wrongly accused by the Vatican of stealing its money, the English Commercial Court has fully rejected the Vatican's case that I or the Athena Capital fund or WRM Group were dishonest or part of any conspiracy or fraud in relation to the negotiation and sale relating to the 60 Sloane Avenue building in 2018,' Mincione said in a statement.
The London case was the first time the Holy See had been put on trial in a foreign court. It was part of the collateral damage that the Vatican incurred in deciding to prosecute 10 people, including Mincione, for a range of financial crimes surrounding its money-losing London investment.
Vatican prosecutors accused Mincione and others of fleecing the Holy See of tens of millions in euros in fees and commissions. Another London broker, Gianluigi Torzi, was accused of then extorting the Vatican for 15 million euros to cede control of the building. They were both convicted by the Vatican court, along with seven others including a cardinal, and are appealing.
___
Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leader Live
12 minutes ago
- Leader Live
Pair jailed for burglary of £4.75m golden toilet from Blenheim Palace
A gang of thieves smashed their way in to the palace and ripped out the fully-functioning 18-carat gold toilet during a raid in 2019. James Sheen, 40, and Michael Jones, 39, were part of the gang who planned and carried out the burglary of the Oxfordshire stately home. The toilet was created by Italian artist Maurizio Cattelan and was a star attraction in an exhibition at Blenheim Palace – the house where Sir Winston Churchill was born. The heist took place hours after a glamorous launch party, and the distinctive toilet was split up or melted down and sold on soon after it was stolen and has never been recovered. The toilet was stolen during a five-minute raid by sledgehammer-wielding thieves, Oxford Crown Court heard. They drove through locked wooden gates into the grounds of the palace in two stolen vehicles before breaking in through a window. Entitled America, the toilet weighed approximately 98 kilograms, was insured for six million US dollars (£4.75 million) and was made from gold which was itself worth about £2.8 million. Sheen, of Wellingborough, Northamptonshire had previously admitted burglary, conspiracy to transfer criminal property and one count of transferring criminal property. Jones, of Oxford, was found guilty of burglary following a trial. Passing sentence, Judge Ian Pringle KC said: 'This bold and brazen heist took no more than five-and-a-half minutes to complete. 'America has never been seen again.' Sheen was jailed for four years and his sentence will run consecutively to the 19 years and four-month sentence he is currently serving for attacks on cash machines, a museum burglary and fraud. 'You were part of the gang of five men who smashed their way into Blenheim Palace that night and stole the hugely valuable golden toilet,' the judge said. 'You were almost certainly the figure that carried the sledgehammer on which your DNA was found and which was used to sever the functioning toilet from its connecting pipes. 'I say straight away I have no doubt at all that the sentence I pass must be consecutive to the sentence you are currently serving. 'Not to do so would be to send out a message that you did this without any penalty at all.' Judge Pringle jailed Jones for 27 months after concluding he could not be sure he was part of the gang that carried out the burglary. 'You paid visits on two occasions to Blenheim Palace in the days leading up to the burglary,' he said. 'That your role was to carry out a reconnaissance of the museum, to know exactly where the golden toilet was situated and to work out the quickest route in and out of the palace, I have absolutely no doubt whatsoever. 'Although you have no witnesses to where you were on the night in question, I cannot be sure that you were part of the group of burglars who broke into the palace that night.' Michael Neofytou, representing Sheen, said due to his current prison term he was not due for release for another seven years. 'If released in 2032 he will have served over half his life in prison,' he said. 'The offence was relatively unsophisticated, and entry gained by smashing a window with a sledgehammer, which was left at the scene with his DNA on. 'In reality, he did nothing to make the primary offending more difficult to detect. He left a great deal of evidence that led to his door in October 2019.' Jeffrey Israel, defending Jones, said he should be sentenced on the basis he was not part of the gang who took part in the burglary. 'His role was limited to the two reconnaissance visits only,' he said. 'There is no suggestion he benefitted materially or personally from the burglary.' During his trial, Jones told jurors he 'took advantage of' the gold toilet's 'facilities' while at the country house the day before it was taken. Asked what it was like, Jones said: 'Splendid.' He worked as a roofer and builder for Sheen from about 2018 and was effectively his 'right-hand man'. Other members of the gang have already been sentenced for their roles in the theft. 'Foolish' middleman Frederick Doe, 37, of Windsor, Berkshire, received a suspended prison sentence after being found guilty of helping Sheen sell some of the gold. Jewellery shop owner Bora Guccuk, 41, from west London, was acquitted of conspiracy to transfer criminal property.
The Independent
17 minutes ago
- The Independent
Corbyn says police ‘picked on him to silence democratic rights' as case dropped
Police were 'picking on' Jeremy Corbyn to 'silence the democratic rights of everybody in our society', he has alleged. The former Labour leader and John McDonnell were called for interview after a pro-Palestine protest in London earlier this year. Mr McDonnell revealed in the Commons that police had dropped their investigation into the pair, but said the Metropolitan Police had originally tried to charge them because MPs were held to have 'a greater culpability'. Nine people face no further action after a demonstration on January 18, according to the Met, which has told the PA news agency it will not confirm whether either politician was involved. Raising a point of order, Mr McDonnell told the Commons: 'You may be aware that (Mr Corbyn) and I were called for interview by the Metropolitan Police following our participation in a demonstration in January calling for peace and justice for the Palestinian people and an end to the genocide in Gaza. 'It was alleged that we failed to follow police restrictions on the protest. This is untrue, and at all times we followed police instructions. 'We can now report that the police have dropped the case against us and there will be no charges.' Mr McDonnell alleged that 'the Metropolitan Police informed us that our case was referred to the Crown Prosecution Service (CPS) because as MPs we were to be held to have, and I quote, 'a greater culpability'.' The independent MP for Hayes and Harlington, who was once Mr Corbyn's shadow chancellor, added: 'This is an unacceptable practice which flies in the face of the principle that we are all equal before the law.' Mr Corbyn, now the independent MP for Islington North, said: 'I don't intend to let it rest just there.' He told MPs: 'If there are elements in the police and possibly in the Crown Prosecution Service who want Members of Parliament to be held to a different standard of account than the general public, that removes us from the normality of law in this country. 'And I think that would be a very, very bad step indeed.' He later added: 'We have to all – all of us – have the right to take part in public protest about human rights abuse, about war, about peace, about anything else. That is what democracy is about. 'And I saw this whole effort as being a means to try and silence the democratic rights of everybody in our society by picking on us two as Members of Parliament, and I'm grateful for the decision that's been made today.' Father of the House Sir Edward Leigh said he had 'not often taken part in demos in central London' but spoke to 'show that opinion in this House of Commons is absolutely united'. 'We've always proclaimed what is very much the British way that Members of Parliament are no different from any other member of the public,' the Conservative MP for Gainsborough said. 'If they do wrong, they will be held to account, but they should not be subject to some greater test of culpability just because they're Members of Parliament.' A Met Police spokesperson said: 'No further action will be taken against nine people who were interviewed as part of an investigation into alleged breaches of Public Order Act conditions during a protest on Saturday January 18. 'The decision in two cases was taken following a review of the evidence by the Crown Prosecution Service, while the remaining seven cases were decided on by police officers. 'While we are aware of names being attributed to those who were the subject of our investigation, we will not be confirming their identities given that matters did not result in any charges.' Two individuals have been charged with breaching the same conditions as well as inciting others to do so, according to the force, with a further two individuals still under investigation.
South Wales Argus
27 minutes ago
- South Wales Argus
Pair jailed for burglary of £4.75m golden toilet from Blenheim Palace
A gang of thieves smashed their way in to the palace and ripped out the fully-functioning 18-carat gold toilet during a raid in 2019. James Sheen, 40, and Michael Jones, 39, were part of the gang who planned and carried out the burglary of the Oxfordshire stately home. The toilet was created by Italian artist Maurizio Cattelan and was a star attraction in an exhibition at Blenheim Palace – the house where Sir Winston Churchill was born. The heist took place hours after a glamorous launch party, and the distinctive toilet was split up or melted down and sold on soon after it was stolen and has never been recovered. The toilet was stolen during a five-minute raid by sledgehammer-wielding thieves, Oxford Crown Court heard. They drove through locked wooden gates into the grounds of the palace in two stolen vehicles before breaking in through a window. The judge said James Sheen was 'almost certainly the figure that carried the sledgehammer' used to sever the toilet from its pipework (Thames Valley Police/PA) Entitled America, the toilet weighed approximately 98 kilograms, was insured for six million US dollars (£4.75 million) and was made from gold which was itself worth about £2.8 million. Sheen, of Wellingborough, Northamptonshire had previously admitted burglary, conspiracy to transfer criminal property and one count of transferring criminal property. Jones, of Oxford, was found guilty of burglary following a trial. Passing sentence, Judge Ian Pringle KC said: 'This bold and brazen heist took no more than five-and-a-half minutes to complete. 'America has never been seen again.' Sheen was jailed for four years and his sentence will run consecutively to the 19 years and four-month sentence he is currently serving for attacks on cash machines, a museum burglary and fraud. 'You were part of the gang of five men who smashed their way into Blenheim Palace that night and stole the hugely valuable golden toilet,' the judge said. 'You were almost certainly the figure that carried the sledgehammer on which your DNA was found and which was used to sever the functioning toilet from its connecting pipes. 'I say straight away I have no doubt at all that the sentence I pass must be consecutive to the sentence you are currently serving. 'Not to do so would be to send out a message that you did this without any penalty at all.' Michael Jones was found guilty of burglary following a trial (Thames Valley Police/PA) Judge Pringle jailed Jones for 27 months after concluding he could not be sure he was part of the gang that carried out the burglary. 'You paid visits on two occasions to Blenheim Palace in the days leading up to the burglary,' he said. 'That your role was to carry out a reconnaissance of the museum, to know exactly where the golden toilet was situated and to work out the quickest route in and out of the palace, I have absolutely no doubt whatsoever. 'Although you have no witnesses to where you were on the night in question, I cannot be sure that you were part of the group of burglars who broke into the palace that night.' Michael Neofytou, representing Sheen, said due to his current prison term he was not due for release for another seven years. 'If released in 2032 he will have served over half his life in prison,' he said. 'The offence was relatively unsophisticated, and entry gained by smashing a window with a sledgehammer, which was left at the scene with his DNA on. 'In reality, he did nothing to make the primary offending more difficult to detect. He left a great deal of evidence that led to his door in October 2019.' Jeffrey Israel, defending Jones, said he should be sentenced on the basis he was not part of the gang who took part in the burglary. 'His role was limited to the two reconnaissance visits only,' he said. 'There is no suggestion he benefitted materially or personally from the burglary.' During his trial, Jones told jurors he 'took advantage of' the gold toilet's 'facilities' while at the country house the day before it was taken. Asked what it was like, Jones said: 'Splendid.' He worked as a roofer and builder for Sheen from about 2018 and was effectively his 'right-hand man'. Other members of the gang have already been sentenced for their roles in the theft. Frederick Doe, 36, right, with his father outside Oxford Crown Court after being sentenced to 21 months imprisonment suspended for two years (PA) 'Foolish' middleman Frederick Doe, 37, of Windsor, Berkshire, received a suspended prison sentence after being found guilty of helping Sheen sell some of the gold. Jewellery shop owner Bora Guccuk, 41, from west London, was acquitted of conspiracy to transfer criminal property.
