The Order
of Friars Minor (OFM), the Catholic Church's most prominent brotherhood of
Franciscan friars, has said dubious dealings have led the OFM into serious
financial trouble. An investigation is underway.
Deutsche Welle, 19 Dec 2014
In an open letter posted on the OFM website Brother Michael Perry, head of the OFM,
revealed that the results of an internal investigation showed the order was in
serious financial difficulty and deeply in debt. Shady dealings by some friars
with fiduciary responsibilities had put the order's finances at risk.
The Italian
news magazine Panorama reported in its latest edition, under the headline
"Franciscans at the cusp of bankruptcy" (Francescani sull'orlo della
bancarotta), that tens of millions of euros of the OFM's funds had been
invested in offshore shell companies. Some of the money apparently went missing
in connection with the purchase and renovation of a hotel in central Rome.
Perry's
letter, addressed to all the Order's friars, said the order's general
treasurer, Giancarlo Lati, had resigned, but gave no details.
Perry's
letter identified "three important elements" as having emerged from
the OFM's internal investigation into the order's finances.
"First,
the General Curia finds itself in grave, and I underscore ‘grave' financial
difficulty, with a significant burden of debt," Brother Perry wrote.
"Second,
the systems of financial oversight and control for the management of the
patrimony of the Order were either too weak or were compromised, thus limiting
their effectiveness to guarantee responsible, transparent management," he
went on.
"Third,
there appears to have taken place a number of questionable financial activities
that were conducted by friars entrusted with the care of the patrimony of the
Order without the full knowledge or consent of the former and current General
Definitorium. Because of the scope and magnitude of these activities, they have
placed the financial stability of the General Curia at grave risk."
Perry added
that the questionable activities also involved people "who are not
Franciscan but who appear to have played a central role," and therefore
the OFM's leaders had decided to call on civil authorities to help deal with
the matter.
 |
| Untransparent dealings at the papacy's main financial institution, the Istituto per le Opere di Religione - generally known as the Vatican Bank - have made headlines for years |
The
Franciscans
Francisans
are people whose religious vows have committed them to the teachings and
example of Saint Francis of Assisi, who was the founder of OFM eight hundred
years ago, in 1209, near the town of Assisi in central Italy. Francis and his
followers undertook to live a simple life in humility and poverty, preaching
repentance to the people.
Francis
also preached the duty of men to protect and enjoy nature, saying humans were
both stewards of God's creation and themselves creatures.
Pope
Francis, the reigning sovereign of the Vatican, adopted his papal name in honor
of Saint Francis and his precepts.
The final
part of the OFM's Brother Perry's letter to his brethren said, "I realize
that many of you will be seriously disappointed and discouraged by this
situation. It will also raise many questions for which you have a right to a
response." He expressed his intention to "give a full account of the
whole affair to the General Chapter."
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