Franciscan Order On Verge Of Bankruptcy After Financial Fraud Uncovered Sun, December 21, 2014 Religion News Service | By Josephine McKenna huffingtonpost Posted: 12/19/2014 1:35 pm EST Updated: 12/19/2014 9:59 pm EST VATICAN CITY (RNS) One of the largest Franciscan religious orders, founded on the humble teachings of St. Francis of Assisi more than 800 years ago, announced it is on the brink of bankruptcy after admitting some of its friars embezzled funds from its accounts. The Italian news magazine Panorama on Friday (Dec. 19) reported that tens of millions of dollars were missing from the Order of Friars Minor and had been invested in offshore companies. Panorama also claimed Swiss prosecutors had seized Franciscan accounts in Switzerland because the account holders had allegedly invested in illegal operations that could include arms and drug trafficking. Brother Michael Perry, the American head of the order, said an internal inquiry was begun in September and revealed “a number of questionable financial activities that were conducted by friars entrusted with the care of the patrimony of the order.” Continue reading here…. According to the “Fair Use” clause of International Copyright Law, the authors declare that the use of the photos, videos and information in this academic research are analyzed for purposes of “criticism, comment, news reporting, teaching, scholarship, or research” according to Section 107 of Title 17 of the US Code. Share this: Click to email this to a friend (Opens in new window)7Click to share on Twitter (Opens in new window)738Share on Facebook (Opens in new window)38Click to share on Tumblr (Opens in new window) Related Vatican Bank Sued For Alleged War Crimes Mon, May 27, 2013 In 2013 Weve discovered hundreds of millions of euros off the Vaticans balance sheet, says cardinal Mon, December 8, 2014 In 2014 JPMorgan, MF Global Trustee Reach Agreement; Bank To Return $546 Million To Trading Firms Customers Fri, March 22, 2013 In 2013
Posted on: Mon, 22 Dec 2014 05:05:32 +0000
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