Cardinal Sins

Oh My Fraud

What do the Catholic Church and Oh My Fraud have in common? They both regularly feature absent internal controls, important figures abusing their positions of trust, and are run by people who drink wine on the job. In this episode, Caleb and Greg chronicle the story of a high-ranking cardinal who wound up in a convoluted real estate deal.

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• (00:00) - The Catholic Church Loves Real Estate
• (01:27) - Welcome to 'Oh My Fraud' Podcast
• (01:54) - Listener Email and Show Themes
• (03:15) - Fraud in the Catholic Church
• (08:59) - Understanding Simony and Priestly Fraud
• (14:28) - Historical Context of the Catholic Church
• (18:45) - The Vatican's Real Estate Ventures
• (22:08) - The Italian Connection: Gianluigi Torzi
• (24:05) - Torzi's Bold Extortion Scheme
• (26:57) - The Aftermath: Arrests and Losses
• (30:14) - Cardinal Becciu's Questionable Transactions
• (32:45) - The Trial and Sentencing
• (35:54) - Lessons Learned: No One is Above Scrutiny
• (44:44) - Conclusion and Final Thoughts

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Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
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Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

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Sources:

Giovanni Angelo Becciu — Wikipedia

Cardinal Becciu Convicted: Six Things to Know About the Prelate and His Trial — National Catholic Register

A cardinal is convicted of embezzlement and sentenced to 5 1/2 years in Vatican trial — NPR

Cardinal Becciu Speaks of ‘Drawing Up a Balance Sheet’ of One’s Life Before God in Homily — National Catholic Register

The Vatican, a Chelsea property deal and Brexit — Financial Times

How the Vatican plans to make and spend its money in 2022—and be more transparent about it — America Magazine

Cardinal convicted of fraud in Vatican court case protests his innocence - Financial Times

A brief history of the Vatican’s London financial scandal — The Pillar

Why priests steal — researchers look to ‘fraud triangle’ in parish life — The Pillar

Parolin pressured Vatican bank over London building deal — The Pilar

Cardinal convicted of embezzlement in landmark Vatican court case — Financial Times