Cardinal Pell loses his position as Vatican treasurer

Cardinal George Pell, who has been found guilty of sexually assaulting two choirboys, is no longer in charge of Vatican finances, it said Tuesday. "I can confirm that Cardinal George Pell is no longer the Prefect of the Secretariat for the Economy," Vatican spokesman Alessandro Gisotti tweeted about the third-most powerful position in the Vatican.

Pell was appointed by Pope Francis to manage the Vatican finances in 2014 and was one of the pontiff's closest advisors. Such appointments usually have a five-year term.