The case of a cleric who was close to the pope of Rome in a $ 412 million fraud case

The case of a cleric who was close to the pope of Rome in a $ 412 million fraud case

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Cardinal Giovanni Angelo Piccio (left) was a close adviser to Pope Francis

A Roman Catholic cardinal who was close to Pope Francis has appeared in court at the Vatican on charges of misusing church funds in a failed real estate project in London.

Cardinal Giovanni Angelo Piccio, 73, is the oldest clergyman of the modern era facing prosecution for financial crimes.

The physio has been accused of spending 350 350 million ($ 412 million) on a deal that failed to buy a property in Chelsea, causing huge losses to the church. The Cardinal denies any wrongdoing.

The pope fired Cardinal Piccio in September.

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About the Author: Will Smith

Alfred Lee covers public and private tech markets from New York. He was previously a Knight-Bagehot Fellow in Economics and Business Journalism at Columbia University, and prior to that was a reporter at the Los Angeles Business Journal. He has received a Journalist of the Year award from the L.A. Press Club and an investigative reporting award from the Society of American Business Editors and Writers.

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