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Ex Vatican bank chiefs ordered to pay 40mn

Case regards maladministration between 2010 and 2013

(ANSA) - ROME, JAN 21 - The Vatican Bank, the Institute for Religious Works (IOR), said Friday that its former director-general Paolo Cipriani and his former deputy Massimo Tulli must pay over 40 million euros in compensation for maladministration of the lender between 2010 and 2013 after a Vatican court rejected their appeal against the penalty.
    It said the case regarded investments arranged by Cipriani and Tulli "which proved to be immediately harmful as problematic and, in several cases, also illegitimate and subject to criminal proceedings". (ANSA).


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