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Interfaith Group

hrmjustin

(71,265 posts) Sat Dec 20, 2014, 11:33 AM Dec 2014

Franciscan Order On Verge Of Bankruptcy After Financial Fraud Uncovered [View all]

Interfaith room

Religion News Service By Josephine McKenna

VATICAN CITY (RNS) One of the largest Franciscan religious orders, founded on the humble teachings of St. Francis of Assisi more than 800 years ago, announced it is on the brink of bankruptcy after admitting some of its friars embezzled funds from its accounts.

The Italian news magazine Panorama on Friday (Dec. 19) reported that tens of millions of dollars were missing from the Order of Friars Minor and had been invested in offshore companies.

Panorama also claimed Swiss prosecutors had seized Franciscan accounts in Switzerland because the account holders had allegedly invested in illegal operations that could include arms and drug trafficking.

http://www.huffingtonpost.com/2014/12/19/order-of-friars-minior-fraud_n_6355532.html

Heartbreaking to see this.

2 replies

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Franciscan Order On Verge Of Bankruptcy After Financial Fraud Uncovered [View all] hrmjustin Dec 2014 OP

So much for Lady Poverty. rug Dec 2014 #1

It is a shame that this happened. hrmjustin Dec 2014 #2