UK Court Partially Clears Financier in Vatican Property Dispute

The High Court rejected fraud allegations against Raffaele Mincione but criticized his lack of transparency in a £275 million London property deal.

The High Court ruled against claims of dishonesty, fraud, and conspiracy by the Vatican against financier Raffaele Mincione in a 2018 property transaction.
The court found that while Mincione was not fraudulent, his communication with the Vatican fell short of good faith standards, leading to a lack of transparency in the deal.
The Vatican had purchased the Chelsea property for £275 million, later selling it for £186 million, resulting in significant financial losses.
The case marks the first time the Vatican faced trial in a foreign court, following its own 2023 tribunal that convicted Mincione and others of embezzlement and fraud.
Judge Robin Knowles highlighted the Vatican's lack of financial expertise and its reliance on inexperienced officials in high-stakes investment decisions.