Vatican bank's 'technical error'

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

Relevant offers

World

Walt Disney posts record quarterly profit on success of Star Wars Banks eye more cost cuts amid global growth concerns Shkreli is sued over sharing images of his $2m Wu-Tang Clan album Shares extend losses on fears over global growth, banks Lobby group claims Fiat 500X has excess emissions Exploitation in electronics: Report reveals links to child labour Super Bowl 50: Peyton Manning effectively gave Budwiser $19.8m in free advertising Losing a knee put tradie Jake Tyson on the path to becoming a serial entrepreneur Wall St crooks and super wealthy a big hit on TV and at the movies Wall St extends losses in broad selloff as worries continue

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