British Court Backs Vatican on Investment Deal, But Financier Claims Partial Victory

The British High Court largely supported the Vatican in a case involving a controversial property investment. Despite financier Raffaele Mincione's claims of victory, the court found he had let the Holy See down. Mincione sought to clear his name after accusations of fraud by Vatican prosecutors.

The British High Court mostly sided with the Vatican over a disputed 350-million euro property investment, despite claims of innocence from financier Raffaele Mincione.

Mincione asserted the ruling proved his honesty, following his conviction on related charges by a Vatican criminal tribunal in December 2023.

The court recognized Mincione's claims but criticized his handling of the investment, saying the Vatican felt "let down" by his actions. Despite the court's decision, Vatican prosecutors maintain that Mincione and others exploited the Holy See for substantial fees and commissions.

(With inputs from agencies.)