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July 12th, 2013 
Peter Nolan He has insisted that he did not act for personal gain.
His lawyers requested that he be released from Rome’s Regina Coeli jail and
placed under house arrest but that was denied by a judge.
The scandal has revived long-standing suspicions that the Vatican bank, known
officially as the Institute for Works of Religion, has been used for money
laundering.
A few days after the priest’s arrest, the director and deputy director of the
bank resigned.
Pope Francis appears keen to bring an end to the bank’s murky affairs and to
raise its levels of transparency and probity to international norms.
The reform of the bank is being overseen by Ernst Von Freyberg, a German
lawyer and a member of the Knights of Malta, a centuries-old Catholic order
headed by a British former Grenadier Guards officer.
Mr Von Freyberg, 55, was appointed in the dying days of Benedict XVI’s papacy
before his historic resignation in February.
The bank will from now on “have zero tolerance for any activity, whether
conducted by laity or clergy, that is illegal or outside the statues of the
institute,” Father Lombardi said.
Source Article from http://telegraph.feedsportal.com/c/32726/f/568301/s/2e930fed/l/0L0Stelegraph0O0Cnews0Cworldnews0Ceurope0Citaly0C10A1762180CMonsignor0E50A0A0Ehas0Eassets0Efrozen0Bhtml/story01.htm
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