Vatican Bank President & Opus Dei Member Ettore Gotti Tedeschi Ousted After Money-Laundering Scandal

– Vatican bank president Gotti Tedeschi ousted -statement (Reuters, May 25, 2012):

May 24 (Reuters) – The Vatican bank’s board of directors voted unanimously on Thursday to oust President Ettore Gotti Tedeschi, and will seek to renew the lender’s ties with the world’s financial community, a statement from the Holy See said.

The board voted no confidence in Gotti Tedeschi “for not carrying out various fundamental functions of his office,” the Vatican said without giving details.

A new president will be hired to renew relataions with the international banking community, it said. The statement confirmed an earlier report from a senior Vatican source.

– Vatican bank chief forced out after money-laundering scandal (Daily Herald May 25, 2012):

The Vatican bank, whose reputation took a blow last year over an investigation into money laundering, has fired Chairman Ettore Gotti Tedeschi after a tenure stained by a financial scandal.

In a vote of no-confidence, the board of directors unanimously agreed to remove Tedeschi, a Banco Santander SA banker who took the job in 2009, from his post for failing “to carry out various duties of primary importance,” according to a statement yesterday by Vatican spokesman Federico Lombardi.

“I would rather say nothing otherwise I would only have ugly words to say,” Tedeschi told reporters in Rome, according to Italian news agency Ansa.

Close confidante: Pope Benedict XVI. and Gotti Tedeschi

Google translation (Original German article below.):

– Vatican Bank chief falls from grace and assigns (ARD/Tagesschau,, May 25, 2012):

Ettore Gotti Tedeschi, former head of the Italy-Spain’s Santander bank should take account of the Vatican Bank in order and free them from Ruch shady business. But then the expert on financial ethics became even suspected to launder money, which was rejected by the Vatican. Surprisingly, he now lost the confidence of the bank board – and his office.

Although the reasons are not clear: either the Vatican once again bullied quite unholy or there is a new scandal into the house. The head of the Vatican Bank IOR, Ettore Gotti Tedeschi, namely, last night resigned as a complete surprise – or he has resigned.

In the afternoon he had spoken of the Supervisory Board of the Institute unanimously mistrust. This is surprising, because Opus Dei man Gotti Tedeschi, a former chief Santander banker in Italy was as honest and true professional was only three years ago was brought in as Aufräumer for IOR.

That the Pope directly under the Institute for Religious Works, which is supposed to manage money ecclesiastical foundations, has one very unsavory reputation. In the 80 years it was involved in money laundering with the Mafia and the billion bankruptcy of Banco Ambrosiano in Milan.

– Vatikanbank-Chef fällt in Ungnade und tritt ab (ARD/Tagesschau, May 25, 2012):

Ettore Gotti-Tedeschi, der frühere Italien-Chef der spanischen Santander-Bank, sollte die Konten der Vatikanbank in Ordnung bringen und sie vom Ruch zwielichtiger Geschäfte befreien. Doch dann geriet der Experte für Finanzethik selbst in Verdacht, Geldwäsche zu betreiben, was der Vatikan zurückwies. Überraschend verlor er nun das Vertrauen des Bankvorstands – und sein Amt.

Auch wenn die Hintergründe noch nicht ganz klar sind: Entweder wird im Vatikan wieder einmal recht unheilig gemobbt oder es steht ein neuer Skandal ins Haus. Der Chef der Vatikanbank IOR, Ettore Gotti-Tedeschi, ist nämlich gestern Abend völlig überraschend zurückgetreten – beziehungsweise er wurde zurückgetreten.

Am Nachmittag hatte ihm der Aufsichtsrat des Instituts einstimmig das Misstrauen ausgesprochen. Das ist insofern überraschend, da Opus-Dei-Mann Gotti-Tedeschi, der früher oberster Santander-Banker in Italien war, als ehrlicher Fachmann gilt und erst vor drei Jahren als Aufräumer zum IOR geholt worden war.

Das dem Papst direkt unterstellte Institut für die religiösen Werke, das eigentlich Gelder kirchlicher Stiftungen verwalten soll, hat nämlich einen recht zwielichtigen Ruf. In den 80er-Jahren war es in Geldwäschegeschäfte mit der Mafia und die Milliarden-Pleite der Mailänder Ambrosiano-Bank verwickelt.