High court says Vatican was let down by financier in London deal

Introduction
A high court reviewing the controversial London property transaction has concluded that the Vatican was let down by financier Raffaele Mincione, whose role in the affair continues to cast a shadow over Church finances. The ruling represents one of the strongest legal acknowledgments yet that the Holy See suffered financial harm as a result of poor advice and questionable management.

Findings of the court
The court determined that the Vatican relied heavily on guidance provided by Mincione during the acquisition of the London property at 60 Sloane Avenue. The property deal, which ultimately resulted in losses estimated at more than one hundred million euros, has been at the center of one of the Vatican’s most public financial scandals. Judges concluded that the financier failed to uphold his obligations and placed his own interests above those of his client, leaving the Holy See exposed to significant losses.

Impact on ongoing trials
The ruling carries weight as appeals in the Becciu case continue. Defense lawyers for Vatican officials argue that blame should be shared with external financiers who structured the deal and profited from its failure. The court’s assessment strengthens this argument by framing the Vatican not solely as an instigator but also as a victim of financial malpractice. Prosecutors, however, maintain that Church officials lacked due diligence and failed to protect assets entrusted to them.

Data and analysis
The London property affair remains a turning point in Vatican financial reform. While it exposed vulnerabilities in oversight and accountability, it also spurred Pope Francis and now Pope Leo to demand stronger safeguards. The court’s finding that the Vatican was let down by its financial adviser underscores the risks of relying on external intermediaries without adequate supervision. Analysts believe the ruling could accelerate efforts to professionalize internal financial structures and to reduce dependence on high risk ventures managed by outsiders.

Conclusion
The high court ruling confirms that the Vatican was disadvantaged by poor financial advice in the London deal, a conclusion that may reshape ongoing appeals and reform strategies. As the Holy See seeks to restore credibility, the episode remains a cautionary tale of the dangers that arise when transparency and accountability are neglected in pursuit of profit.