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Request to probe Vatican Bank over holocaust loot

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Request to probe Vatican Bank over holocaust loot

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The European Commission has been asked to investigate allegations that the Vatican bank helped launder the proceeds from property plundered by the Nazis during World War II.

A lawyer for holocaust survivors claims the assets were stolen by the Nazi-backed regime in Croatia and ended up in the Vatican Bank in 1946.

The office of the EU’s economic and monetary affairs commissioner said it had contacted the Vatican which has previously denied the allegations.

Lawyer Jonathan Levy said that under an agreement signed by the Vatican Bank late last year, it is covered by European law on money laundering, counterfeiting and fraud and the commission has the authority to investigate.

A US lawsuit on the same issue went nowhere after an appeals court ruled that the Vatican Bank has immunity in the US.