Scandal-Plagued Catholic Order Denies Hiding Millions in Offshore Accounts christian chat room logo Thursday, December 09, 2021 7:37 AM GMT+1
       Reset Password        Click here to sign up.
 
home page
Home
       Our Daily Bread Daily Devotional online
Our Daily Bread
       The Good Seed Daily Devotional online
The Good Seed
       The LORD is near Daily Devotional online
The LORD is near
       Andrew Wommack Daily Devotional online
Andrew Wommack
       Billy Graham Daily Devotional online
Billy Graham
 
christian chat room
Christian Chat Room
       general chat room
General Chat Room
       trending chat room
Trending
 

Christian Chat Room Topic

Scandal-Plagued Catholic Order Denies Hiding Millions in Offshore Accounts - Christian Chat Room

Scandal-Plagued Catholic Order Denies Hiding Millions in Offshore Accounts details picture Scandal-Plagued Catholic Order Denies Hiding Millions in Offshore Accounts
Posted by Temmy Fri, October 15, 2021 10:57am
Details
Scandal-Plagued Catholic Order Denies Hiding Millions in Offshore Accounts

Scandal-Plagued Catholic Order Denies Hiding Millions in Offshore Accounts

An embattled Catholic religious order accused of hiding almost $300 million in offshore accounts denied any wrongdoing in an online statement, declaring that it did not evade taxes and complied with international accounting standards.

The Legionaries of Christ, a once powerful Catholic religious order that fell into disgrace in 2010 after sexual abuse scandals involving its founder, allegedly hid $295 million through the use of complex financial mechanisms such as trusts and offshore accounts, according to a recently published probe by the International Consortium of Investigative Journalists.

The revelations coincide with Pope Francis’ overhaul of the Vatican financial system, which has also been embroiled in financial scandals involving tax evasion, money-laundering and offshore accounts.

On Oct. 3 the consortium released a massive amount of leaked data and documents known as the “Pandora Papers,” shedding light on intricate maneuvers by wealthy and influential individuals and organizations to avoid paying taxes through offshore accounts in tax havens.

Among the list of A-listers is the Legionaries of Christ, which allegedly hid millions through three trusts in New Zealand. The Retirement and Medical Charitable Trust was created in 2010, only a few days before then-Pope Benedict XVI announced that the Vatican would take over the order’s management.

The other two trusts, the AlfaOmega Trust and the Salus Trust, were reportedly created in late 2011 to manage its investments just as the Legionaries faced massive settlements from alleged sexual abuse victims.

“The two trusts that the media reports claim have this money were not created by the Legionaries of Christ,” read the statement issued by the Legionaries on Thursday (Oct. 7), adding that the Pandora Papers “falsely attributed them to the Congregation.”

The statement confirms that the Legion did receive donations and loans from the trusts, which the statement said were created by a priest in the order and his relatives.

The Legionaries of Christ was founded in 1941 by the Mexican priest Marcial Maciel Degollado, who was later accused of sexually abusing minors and young men and of fathering multiple children while he led the religious order. Maciel died in 2008, and two years later the Vatican took control of the Legion after a wave of revelations concerning its management of abuse allegations and its finances.

The Rev. Luis Garza Medina, a Mexican priest who took over some of the management of the order after Maciel’s death, oversaw two of the order’s funds in New Zealand, according to the ICIJ report.

A 2014 review of the Legion’s finances found no irregularities, but a trove of documents published by ICIJ in 2017, the “Paradise Papers,” revealed an intricate web of offshore accounts connected to the order. After the reports, the Legion announced that it no longer held offshore entities.

“That statement was true then and it is true today,” the order said in its statement this week, adding that New Zealand is not considered a tax haven by the European Parliament and that the Retirement and Medical Charitable Trust exists for the sole purpose of receiving and distributing donations.

According to the report, a portion of the funds in the three trusts was used to invest in real estate in the United States. The report, published with the help of 150 media partners all over the world, showed that $14 million of the trusts’ funds were invested in apartment complexes that financially squeezed and evicted tenants during the height of the pandemic.

Speaking to attendees of the 75th General Assembly at the United Nations in September 2020, the pope called for “a new ethics” where nations “work together to close tax shelters, avoid evasions and money laundering that rob society,” and to “speak to nations about the importance of defending justice and the common good over the interests of the most powerful companies and multinationals.”

Source





 

More From Christian Chat Room Archives


Christians in Indian village beaten, forced to reconvert to tribal religions
Christians in Indian village beaten, forced to reconvert to tribal religions
Posted on Sun, April 04, 2021 10:11pm


Christian families in a village in the central Indian state of Chhattisgarh fled after villagers belonging to a tribal religion ostracized and threatened to kill them if they did not convert back to their ancestral religion, but the 10 Christians who could not flee were beaten and forced to...More
Revival Breaks Out at Nashville-Area Church with 1,000 Baptisms: It's Solely a 'Movement of God'
Revival Breaks Out at Nashville-Area Church with 1,000 Baptisms: It's Solely a 'Movement of God'
Posted on Mon, April 19, 2021 12:51pm


A revival that began in December at a Nashville-area church has now lasted nearly four months, with more than 1,000 baptisms and people coming to Christ long after the Sunday morning service has ended.

The congregation, Long Hollow Baptist Church in Hendersonville, Tenn., experienced a movement...More
Where is the Church amidst the chaos of the ungodly - Hedieh Mirahmadi
Where is the Church amidst the chaos of the ungodly - Hedieh Mirahmadi
Posted on Thu, May 06, 2021 2:48pm


Every day police officers have only seconds to make life or death decisions about threats to public safety, and they do not have the luxury of carefully deliberating other options. In one instance, the officer is charged with 2nd-degree murder for using her firearm instead of a taser even though the...More
Muslim Cleric Arrested, Charged With Blasphemy, Hate Speech for Reportedly Insulting Christianity
Muslim Cleric Arrested, Charged With Blasphemy, Hate Speech for Reportedly Insulting Christianity
Posted on Wed, September 01, 2021 11:50am


Indonesian police arrested a Muslim cleric Thursday and charged him with blasphemy for allegedly insulting Christians.

Muhammad Yahya Waloni, a former Protestant who became a Muslim in 2006 and later an imam, was detained while at his home in the national capital of Jakarta, Union of Catholic...More



 


. .


For enquiries, notifications and ad placement send mail to [email protected]
Copyright 2012 - 2021 All Rights Reserved.
Privacy Policy || Terms & Conditions