This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.theguardian.com/world/2014/dec/19/franciscan-order-monks-uncovers-fraud

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Franciscan order of monks inquiry uncovers major financial fraud Franciscan order of monks inquiry uncovers major financial fraud
(about 1 hour later)
The Vatican has been hit by another scandal after the Franciscan order of monks announced it was in grave financial difficulty following the discovery of a massive fraud. The Franciscan order of monks has announced it is in grave financial difficulty after the discovery of a massive fraud.
An internal investigation initiated four months ago found that some monks who had been running the Franciscans’ endowment engaged in “questionable financial activities” that have emptied the 800-year-old order’s coffers. An internal investigation begun four months ago has found that some monks who ran the Franciscans’ endowment engaged in “questionable financial activities” that have emptied the 800-year-old order’s coffers.
The Franciscans are a community within the Catholic church and are followers of St Francis of Assisi, who was known for espousing a life of poverty. The Franciscans are a community within the Catholic church who follow St Francis of Assisi, who was known for advocating a life of poverty.
The order’s financial woes were disclosed in a rare open letter published this week by American monk Michael Perry, the minister general of the Franciscans. The order’s financial woes were disclosed in a rare open letter published this week by American monk, Michael Perry, the Franciscans’ minister general.
He painted a desperate picture of an order whose viability is now in doubt, and facing a “significant burden of debt” as a result of the deception. He also cast blame outside of the church. He painted a desperate picture of an order whose viability is in doubt and facing a “significant burden of debt” as a result of the deception. He also cast blame outside the church. “These questionable activities also involve people who are not Franciscan but who appear to have played a central role,” he said in the letter.
“These questionable activities also involve people who are not Franciscan but who appear to have played a central role,” he said in the letter. While short on detail, the letter describes an investigation that began in September into the activities of the office of the general treasurer of the Franciscan order dating back to 2003. An unnamed general treasurer has resigned from his duties, Perry said.
While short of specific details, the letter describes an exhaustive internal probe that began in September into the activities of the office of the general treasurer of the Franciscan order dating back to 2003. The inquiry so far has discovered that the Franciscan order is facing “grave, and I underscore ‘grave’ financial difficulty”, Perry said and that the systems of oversight meant to protect the order had been either “too weak or compromised”.
The unnamed general treasurer has resigned from his duties, Perry said. “We are encouraged by the example set by Pope Francis in his call for truth and transparency in financial dealings in the church and in human societies,” Perry wrote.
The inquiry so far has discovered that the Franciscan order is facing “grave, and I underscore ‘grave’ financial difficulty”, Perry said, and that the systems of financial oversight meant to protect the order had been either “too weak or compromised”, thus limiting their effectiveness. He added that civil authorities were also involved in the case, since outsiders were considered at least partly to blame for the alleged wrongdoing.
“We are encouraged by the example set by Pope Francis in his fall for truth and transparency in financial dealings both in the church and in human societies,” Perry wrote. The church was also seeking the advice of outside lawyers.
He added that civil authorities were now also involved in the case, since outsiders were considered at least partly to blame for the alleged wrongdoing. The church was also seeking the advice of outside lawyers in the investigation. The Franciscan order declined to comment.
The Franciscan order declined to comment. The Vatican bank is also mired in investigations including allegations of shady property deals. Pope Francis has called on the Vatican bank to be more transparent and accountable as part of his effort to reform the church’s bureaucracy.
The Franciscan disclosure comes as the Vatican Bank is mired in investigations including allegations of shady property deals. Pope Francis has called on the Vatican Bank to be more transparent and accountable as part of his effort to reform the church’s bureaucracy.