Diocese of Pesaro invests in Liechtenstein and loses everything

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Diocese of Pesaro invests in Liechtenstein and loses everything




Piero Coccia


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Piero Coccia


PESARO – There are not only the Vatican. It may also happen that the Italian dioceses and archdioceses run into even sensationally wrong operations. This is the case of the Archdiocese of Pesaro which invested 616 thousand euros in Liechtenstein and lost everything: only years later it started a civil suit. This is money from the parishes, invested in 2003 and 2004 with payments on several occasions to the company ValorLife Lebensversichterungs-Aktienegeselschaft of Vaduz, capital of the small principality between Switzerland and Austria, where taxes are paid at 1.5%.

The Curia had signed 9 life policies, he anticipates the Rest of the Carlino, with various beneficiaries, priests and trustees, lasting 6 years. The first payments date back to the last months of 2009, when the Archdiocese was led by Angelo Bagnasco, and they continued until August 2004, when Monsignor had already arrived Piero Coccia. At the end of the 6 years, the Archdiocese should have collected the amount of the sums paid with interest. But in 2010, at the expiration of the policies, ValorLife took great care not to do so despite numerous requests. And the Curia, incredibly, dropped it at the time, perhaps to avoid clamor. The same one that had been a couple of years earlier, when another important archdiocese, that of Loreto, had lost about 11 million euros in a wrong investment: all the liquidity of the Pontifical Delegation, divided between various credit institutions of the territory, had flowed into a single account of another bank, apparently at the suggestion of a financial consultant, and then disappeared. A story on which the Vatican had also investigated: a part of the sum would then re-emerge in 2009 in the Cayman Islands.

Finally, with the penal road now barred by the prescription, the decision in these days of the Archdiocese of Pesaro, in the person of Monsignor Coccia, to bring a civil lawsuit, after a recent sentence again against ValorLife, proposed by customers in Central Italy, concluded with a settlement of 15% of the value paid. The case before the Pesaro civil court, however, was immediately jammed, as it was not possible to notify the documents to the Liechtenstein company, closed by the supervisory authority about a year ago.

According to the Curia lawyer, the lawyer Tommaso Patrignani, “the Archdiocese has signed a pure speculative investment contract with high risk capital and not, as was intended, life policies with guaranteed capital. ValorLife has violated all legal obligations by placing the entire risk of the diocese on ‘investment”. Next hearing in April 2021.

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