Vatican Cardinal Resigns After Accusations of Financial Scandal

The Holy See announced Italian Cardinal Giovanni Angelo Becciu’s resignation on September 24. His resignation comes as a sudden move from the cardinal who was an advisor to Pope Francis and, until 2018, was the Vatican’s Deputy Secretary of State. Becciu renounced the rights of Cardinal, including the ability to aid in the selection of a new pope. Since the seemingly hurried late-night announcement, the cardinal stated that he was forced out of his position.

Cardinal Becciu resigned amid accusations of involvement in the financial scandal that has plagued the Holy See for the past few years. A high ranking official, Cardinal Becciu has long been close to and regularly met with the Pope. The scandal involves London real estate investments that used Vatican money, but Cardinal Becciu has denied involvement.

The office of the Secretary of State, a title which Cardinal Becciu had previously held, was raided in October 2019 in relation to the London real estate investment. The investigation followed an objection to a loan by the Vatican Bank for €100 million ($116 million) to finance this investment. Becciu defended the investment earlier this year and denied claims that a fund for the poor was used to finance it.

The cardinal's resignation may be linked to other possible causes as well. The cardinal stated that he was confronted by the Pope about money he had given to charities and businesses run by his brothers. The Holy See has not yet officially linked Cardinal Becciu to any possible financial scandals, and Becciu continues to deny claims that he used charity funds to benefit his investments and his family. 

This development comes after many issues within the Holy See over the past few years. With issues of sexual misconduct coming to light in the church, other cardinals, such as Theodore E. McCarrick and Keith O’Brien, were renounced of their rights within the past few years. 

While the Holy See has yet to formally accuse Cardinal Becciu of any wrongdoing, the resignation is an extremely rare occurrence in the Holy See, and little has been said of reasons for it. Despite the possible ties to financial investigation, the Holy See statement referred to Cardinal Becciu as “his eminence,” indicating that Cardinal Becciu will keep his title. If Cardinal Becciu is connected to the financial scandal that has plagued the church, it will be another sharp blow to an already weakened system after years of sexual misconduct scandals.