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An undated photo of Monsignor Nunzio Scarano, known as 'Montsignor 500', who was arrested this morning. Francesco Pecoraro/AP

'€500 note-loving priest' arrested over suspected Vatican Bank fraud

Nunzio Scarano – nicknamed ‘Montsignor 500′ because of his alleged love of €500 notes – was arrested this morning.

A PRIEST has been arrested on suspicion of fraud and corruption in connection with the sweeping probe of the scandal-plagued Vatican bank, Italian media reported this morning.

Nunzio Scarano, a priest from Salerno, was arrested after an investigation into the Institute for Works of Religion (IOR), as the bank is known, unearthed a suspected international fraud scheme, reports said.

Initial reports that had suggested Scarano was a bishop were incorrect, Vatican senior media advisor Greg Burke said.

The priest was suspended from his position as a member of the administration that manages the Vatican’s assets, the APSA, “about a month ago, after his superiors learnt about an investigation into his activities,” Vatican spokesman Federico Lombardi said.

Scarano was arrested along with a former member of the Italian secret services and a financier for allegedly plotting to illegally move €20 million from Switzerland to Italy.

The money allegedly belonged to friends of Scarano and was brought into Italy on board a private jet belonging to the former secret service agent, Giovanni Maria Zito, the reports said.

Zito purportedly received €400,000 for the service.

According to the daily La Repubblica, Scarano is also under investigation by the Salerno prosecutor on suspicion of money laundering.

“They called him Monsignor 500… because of the great number of €500 notes he had at his disposition,” which he allegedly used to launder money for friends in southern Italy, the daily said.

It added that it was an initial investigation into Scarano’s bank account at the IOR which led to the discovery of the suspected racket.

- © AFP, 2013

Read: Pope names commission of inquiry into Vatican Bank

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    Mute sluazcanal
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    Jun 28th 2013, 9:28 PM

    The Westin tried to sell me a weekend of digital detox, when it came to the money I told them where to go. Sure I could buy an iPad for the money they were asking for.

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    Mute Tokidoll
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    Jun 28th 2013, 9:22 PM

    Every device has a built in detox button – the off switch

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    Mute Dmc
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    Jun 28th 2013, 9:33 PM

    Delphi mountain resort is a good place to avoid the dreaded signal

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    Mute Wayne Bruce
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    Jun 28th 2013, 11:43 PM

    Amazing how as a species we just get addicted to anything.

    Sent from my iPhone
    Watching Netflix on my iPad
    Face timing on my Mac

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    Mute leanne
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    Jun 28th 2013, 11:42 PM

    I just went the past week without my iPhone as it had to be repaired. I thought I would be lost but in actual fact I loved not having it! It was a great break not checking it every few mins for messages and Facebook comments etc had no one bothering me and anyone who wanted me or who I wanted I had to talk to face to face. Got a bit more sleep too :P Think I’ll be turning it off now more often now!

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    Mute Chief PP In TeePee
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    Jun 29th 2013, 12:25 AM

    If you turn it off completely we’ll never know how this story pans out. Sound for being selfish!

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    Mute Aoife Fox
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    Jun 29th 2013, 1:05 AM

    I was in hospital recently and logged out of the business email and Facebook, tough going to do it at first but I thoroughly enjoyed it! Found it quite hard to get back to normal though, I started to get used to not answering emails at stupid o’clock just because they were there. It’s tough going when it’s your own business but I decided I definitely need to start operating office hours for taking calls and responding to emails. There has to be a limit!

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