Mercury Rising 鳯女

Politics, life, and other things that matter

Dirty Money: the Vatican’s bequest from Mussolini

Posted by Charles II on January 22, 2013

David Leigh, Jean François Tanda and Jessica Benhamou:

Few passing London tourists would ever guess that the premises of Bulgari, the upmarket jewellers in New Bond Street, had anything to do with the pope. Nor indeed the nearby headquarters of the wealthy investment bank Altium Capital, on the corner of St James’s Square and Pall Mall.

But these office blocks in one of London’s most expensive districts are part of a surprising secret commercial property empire owned by the Vatican.

Behind a disguised offshore company structure, the church’s international portfolio has been built up over the years, using cash originally handed over by Mussolini in return for papal recognition of the Italian fascist regime in 1929.

Since then the international value of Mussolini’s nest-egg has mounted until it now exceeds £500m.

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3 Responses to “Dirty Money: the Vatican’s bequest from Mussolini”

  1. Phoenix Woman said

    Somehow this doesn’t surprise me.

  2. MarkH said

    *Only* 500 million? Somehow I suspect that number is not correct.

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