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Former managers of Vatican bank ordered to pay damages

VATICAN (CNS): A Vatican court found Paolo Cipriani, the former director of the Institute for the Works of Religion (IOR)—better known as the Vatican Bank, and Massimo Tulli, the bank’s former deputy director, liable for mismanagement on February 6, and ordered an injunction for them to pay damages.
 
The amount sought was not specified. However, the Italian news agency ANSA said the damages the bank incurred totalled about 47 million euro (about $449 million).
 

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