Vatican's High-Stakes Legal Battle in London Investment Fraud

The Vatican, concluding a trial in Britain, claimed to be a victim of a prolonged fraud concerning its investment in a London property. British-Italian broker Raffaele Mincione, already convicted by a Vatican tribunal, seeks to clear his name, asserting he acted in 'good faith.' A verdict is anticipated after summer.

The Vatican insisted Thursday at the close of a trial in Britain that it was the victim of a yearslong fraud over its investment in a London property, arguing that one of its main brokers by no means acted 'in good faith.'

The Vatican presented its final statement as the trial of British-Italian broker Raffaele Mincione concluded. Mincione was convicted by a Vatican criminal tribunal last year for his involvement in the 350-million-euro investment in the former Harrod's warehouse and is seeking to clear his name in British courts, claiming he acted 'in good faith.'

The Holy See contended that Mincione and his associate conspired to defraud it of millions by inflating the property's price when the Vatican decided to fully purchase it in late 2018. The Vatican urged the High Court to dismiss Mincione's request for declarations affirming his 'good faith,' stressing it was his responsibility to prove transparency in his dealings.