Former Vatican bank chief cleared

Probe finds no evidence Tedeschi acted unlawfully

A former president of the Institute for Religious Works (IOR) has been cleared of any wrongdoing by Italian investigators.

Ettore Gotti Tedeschi (pictured) had been the subject of a probe launched in 2010 into allegations of money laundering at the IOR. On the basis of findings, a judge has ruled that Tedeschi has no case to answer as he had no direct links to the accounts which are central to the investigation. Attention now turns to the IOR’s former director general, Paolo Cipriani, in relation to the money laundering.

In a statement following his vindication, lawyers for Tedeschi criticised the board of the IOR for having forced the 2012 resignation of their client as the bank sought to deal with a wave of allegations as to its financial dealings. While Tedeschi had been attempting to bring a new transparency to the workings of the IOR, they said, the board was guilty of “grave errors and thus grave damage to the Holy See”.