Vatican bank's 'technical error'

NICOLE WINFIELD
Last updated 08:00 31/01/2014

Relevant offers

World

Jamie's Italian, Cargo Bar up for grabs as Keystone assets hit market Topshop owner Philip Green blamed for collapse of BHS department store chain in UK Canada tax targets foreign house buyers Money laundering bankrupt beat planning rules by disguising mansion as shed Just pay it: Nike boss' pay almost triples Yahoo boss could reap $80m golden parachute Pokemon GO! earnings woe lays Nintendo shares low Dick Smith creditors vote to wind up retailer - but many may not see a cent Bank sign calling homeless person 'inconsiderate' sparks outrage Verizon buys Yahoo, marking end of an era for internet trailblazer

The Associated Press has learned that Vatican bank told dozens of widows and pensioners to close their accounts or risk losing access to their money, then back-tracked and said it was all a "technical error."

The embarrassment comes as the institution is trying to fend off accusations of mismanagement and corruption.

"In some cases old ladies got nasty letters," Max Hohenberg, spokesman for the Institute for Religious Works told The AP.

Bank President Ernst Von Freyberg penned a terse letter to clients telling them to their money out because they no longer fit the criteria of account-holders set by the board. Somehow former Vatican employees and their widows got caught up in the sweep, apparently because of the way their accounts were classified by the bank internally.

Ad Feedback

- AP

Special offers

Featured Promotions

Sponsored Content