Vatican Suit Dropped

A federal court in Mississippi on Feb. 2 dismissed a 10-year-old lawsuit accusing the Vatican of complicity in a scheme to bilk insurance companies for more than $200 million. The state insurance commissioners of Mississippi, Tennessee, Missouri, Oklahoma and Arkansas had filed the lawsuit in 2002, charging the Vatican and Msgr. Emilio Colagiovanni of racketeering and fraud. The commissioners claimed that Monsignor Colagiovanni and the Holy See had aided financier Martin Frankel in purchasing small, ailing insurance companies, whose assets he then siphoned off, leaving them unable to pay claims. Jeffrey S. Lena, an attorney for the Holy See, said the dismissal “was not the result of any settlement agreement” and that the insurance commissioners had requested the court’s action “of their own accord.”

Don't miss the best from America

Sign up for our Newsletter to get the Jesuit perspective on news, faith and culture.

The latest from america

Pope Francis said opportunity can come by restoring “the pillars” on which the union was first founded.
Gerard O'ConnellMarch 24, 2017
Some of the tensions still troubling Liberian life have deep social and historical roots.
Kevin ClarkeMarch 24, 2017
“This bill is catastrophic for Catholic social teaching and particularly for the people who we’re called to serve,” Sister Carol Keehan said.
Michael O'LoughlinMarch 24, 2017
Facing one’s clinginess, having to let go—it’s the last lesson, the real revelation of the ascension.
Jim McDermottMarch 23, 2017