Part 5/9:
As layers of the situation unfolded, it became apparent that the Vatican was not the direct owner of the London property but was instead involved in a convoluted network of financial instruments that eroded its control and business interests. Losses piled up, amounting to over €1 million in commissions, as the asset manager failed to generate substantial returns.
Figures in the Shadow
Key players like Rafael Michon, a financier of questionable repute, maneuvered through the Vatican’s financial structure, ultimately leading to unfavorable agreements that culminated in an extensive cover-up. Michon's complex connections with influential members of the Vatican only highlighted the unsettling relationships forming at high levels.