Oh My Fraud

Cardinal Sins


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What do the Catholic Church and Oh My Fraud have in common? They both regularly feature absent internal controls, important figures abusing their positions of trust, and are run by people who drink wine on the job. In this episode, Caleb and Greg chronicle the story of a high-ranking cardinal who wound up in a convoluted real estate deal.

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  • (00:00) - The Catholic Church Loves Real Estate
  • (01:27) - Welcome to 'Oh My Fraud' Podcast
  • (01:54) - Listener Email and Show Themes
  • (03:15) - Fraud in the Catholic Church
  • (08:59) - Understanding Simony and Priestly Fraud
  • (14:28) - Historical Context of the Catholic Church
  • (18:45) - The Vatican's Real Estate Ventures
  • (22:08) - The Italian Connection: Gianluigi Torzi
  • (24:05) - Torzi's Bold Extortion Scheme
  • (26:57) - The Aftermath: Arrests and Losses
  • (30:14) - Cardinal Becciu's Questionable Transactions
  • (32:45) - The Trial and Sentencing
  • (35:54) - Lessons Learned: No One is Above Scrutiny
  • (44:44) - Conclusion and Final Thoughts

  • HOW TO EARN FREE CPE

    In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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    CONNECT WITH THE HOSTS

    Greg Kyte, CPA
    Twitter: https://twitter.com/gregkyte
    LinkedIn: https://www.linkedin.com/in/gregkyte/

    Caleb Newquist
    Twitter: https://twitter.com/cnewquist
    LinkedIn: https://www.linkedin.com/in/calebnewquist/

    Email us at [email protected]

    Sources: 

    Giovanni Angelo Becciu — Wikipedia

    Cardinal Becciu Convicted: Six Things to Know About the Prelate and His Trial — National Catholic Register

    A cardinal is convicted of embezzlement and sentenced to 5 1/2 years in Vatican trial — NPR

    Cardinal Becciu Speaks of ‘Drawing Up a Balance Sheet’ of One’s Life Before God in Homily — National Catholic Register

    The Vatican, a Chelsea property deal and Brexit — Financial Times

    How the Vatican plans to make and spend its money in 2022—and be more transparent about it — America Magazine

    Cardinal convicted of fraud in Vatican court case protests his innocence - Financial Times

    A brief history of the Vatican’s London financial scandal — The Pillar

    Why priests steal — researchers look to ‘fraud triangle’ in parish life — The Pillar

    Parolin pressured Vatican bank over London building deal — The Pilar

    Cardinal convicted of embezzlement in landmark Vatican court case — Financial Times

    ...more
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    Oh My FraudBy Caleb Newquist

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