The Bloomberg reported on July 2, 2013, that following a series of corruption investigations, the director Paolo Cipriani and deputy director Massimo Tulli of the Vatican bank resigned yesterday .
The resignations came three days after a senior Vatican cleric, a financial broker and an Italian secret service agent were arrested by Italian authorities for corruption.
They have been accused of plotting to bring 20 million euros into Italy from Switzerland in a private jet.
In a statement, the Vatican said that the director and deputy director stepped down in view of best interest of the institute.
The bank’s president, Ernst von Freyberg will now take over as interim director
general of the Vatican bank or IOR (the Institute for the Works of Religion).
In a statement he said that new leadership will help fasten the pace of the transformation process.
Pope Benedict XVI had appointed Ernst von Freyberg, in February before retiring. A new position of chief risk officer will be created.
The IOR which oversees about 7.1 billion euros in assets is trying to overcome three decades of scandals. The oversight council will soon appoint new directors.
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