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Vatican secret empire built with millions of Mussolini

Many office buildings in the most expensive areas of London seem to be part of a surprising secret commercial empire of the Vatican.

The church funded the international portfolio with the money that was paid in 1929 by Mussolini's fascist regime in order to be recognized by the pope.

In 2006 bought the Vatican 30 St. James's Square. It is near an office of Lord Rothschild, an apartment of media mogul Rupert Murdoch and the headquarters of the Knights Templar. Other property of the Vatican are located at 168 New Bond Street in the city of Coventry. The church also owns apartment buildings in Paris and Switzerland.

Profima SA

Until recently, the Vatican did everything to make the millions of Mussolini's secret. The office complex at St. James's Square was purchased by the British company Grolux Investments Ltd.. Two major shareholders of the company are the Catholic bankers John Varley, former chief executive of Barclays, and Robin Herbert, formerly worked for Leopold Joseph.

British Grolux was formed in 1999 from British Grolux Estates Ltd and Cheylesmore. The shares of both companies were owned by a company that was registered at the address of the bank JP Morgan in New York. The company turns out after further research into the hands of the Swiss company Profima SA.

Profima SA is the holding company of the Vatican. The company was in the Second World accused of participating in activities that are not in the interest of the Allies'. Bernardino Nogara gave at that time led to the finances of the Vatican City. He also managed the money that was paid by Mussolini.

The Allies thought Nogara shares of two companies of the Vatican in France wanted to transfer to Profima SA to prevent the French government would designate them as enemy property. In 1943 would Nogara Italian bank shares placed with Profima them white washing. This was described as "manipulation" of the finances of the Vatican City.

Special unit

In 1931 he founded a company in Luxembourg to the European possessions manage. Luxembourg was some years before one of the first tax havens in the world. When the war began, the operation was transferred to Luxembourg in the United States and Switzerland.

The assets in Britain and the rest of Europe are currently managed by a papal official in Rome Paulo Mennini. Mennini is within the Vatican head of a special unit of the APSA (Amministrazione del Patrimonio della Sede Apostolica).

The Administration of the Patrimony of the Holy See is responsible for the management of the private property of the Holy See. The Ordinary Division conducts the economic management of goods, while the Department of Extraordinary specific movable property of the Holy See manages.

A report by the Council of Europe last year shows that the managed assets of the special unit of Mennini has now risen to 680 million.

It is unclear why the Vatican, the fascist origins of its resources even after the reorganization in 1999, wishes to remain undisclosed.

Bron: Guardian.co.uk

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