The Vatican's indictments in a soured real estate deal include a Swiss anti-money laundering specialist who had been tasked by the Holy See to clean up its financial dealings.

Rene Bruelhart is one of ten people indicted by the Vatican over a $150 million property deal in London's Chelsea overseen by Cardinal Giovanni Angelo Becciu, according to the Vatican's official news site. Bruelhart, a Swiss lawyer who is well-known in crimefighting circles, denies any wrong-doing.

The affair centers on Becciu, who was effectively forced out by Pope Francis last year. Bruelhart oversaw the Vatican’s Financial Information Authority, AIF, when, Vatican investigators allege, it «overlooked the anomalies of the London transaction – of which it had immediately been informed – especially considering the wealth of information acquired as a result of intelligence activity».

Tinged By Turf War

The two-year-old probe is tinged by a Vatican turf war between the Holy See's bank and the AIF (it is now called the ASIF), which Bruelhart led until 2019. The Vatican said the trial will begin on July 27.

The Vatican documents allege that Bruelhart's and then-AIF director Tommaso di Ruzza's involvement in the London property deal «seriously violated the basic rules governing supervision» and implicitly enabled wrong-doing by others.

«Procedural Blunder»

Bruelhart, who said he hadn't been formally notified of his indictment yet, told finews.com the matter «constitutes a procedural blunder that will be immediately clarified by the organs of Vatican justice as soon as the defense will be able to exercise its rights.»

The 49-year-old Swiss native said that he acted «with correctness, loyalty and in the exclusive interest of the Holy See and its organs». Hypothekbarbank Lenzburg, where Bruelhart is a board director besides his consulting business, said it sees no cause for action because the Vatican's allegations aren't directed at his conduct at the regional Swiss lender.

«Mr. Bruelhart enjoys the full presumption of innocence until the allegations have been clarified in court,» a spokesman said. «Until then, Mr. Bruelhart enjoys our full confidence and will remain a member of our board of directors.» A spokesman for Swiss financial regulator Finma, which oversees questions of fitness and probity, didn't comment.

Cleaning Out Accounts

The AIF's head at the time, di Ruzza, was suspended after Vatican police raided the authority, and Bruelhart's engagement in Rome wasn't renewed. The division between the two, roughly, was di Ruzza operationally and Bruelhart as non-executive president – with no oversight of the area Cardinal Becciu worked in at the time, as specialty publication «Crux» highlighted.

The outlet called Bruelhart's indictment the most puzzling of the ten, even more so than the former cleric's. Under Bruelhart, the Vatican Bank shut nearly 5,000 accounts, and the number of potentially suspicious transactions surged. Bruelhart was Liechtenstein's top anti-money laundering expert from 2004 until former Pope Benedict tapped him in 2012.