The cardinal himself has not yet responded to a request for comment from CNA.
The move was unexpected, and does not seem to have been long planned. Becciu had been scheduled to preside over the beatification of Ven. Carlo Acutis, which will take place in Assisi Oct. 10.
Becciu served as “sostituto,” or second-ranking official at the Secretariat of State, from 2011 to 2018, when Pope Francis named him a cardinal and moved him to the Congregation for the Causes of the Saints. During his tenure in that position, he was linked to a number of financial scandals, most recently the Secretariat’s investment of hundreds of millions of euros with the Italian businessman Rafaelle Mincione and the controversial purchase of a London building.
CNA has previously reported that a substantial part of the $200 million used to finance the Secretariat of State’s purchase of a luxury development at 60 Sloane Avenue came through credit extended by BSI, a Swiss bank with a long track record of violating money-laundering and fraud safeguards in its dealings with sovereign wealth funds.
CNA has also reported that in 2015 Becciu seemed to have made an attempt to disguise the loans on Vatican balance sheets by cancelling them out against the value of the property purchased in the London neighborhood of Chelsea, an accounting maneuver prohibited by new financial policies approved by Pope Francis in 2014.
The alleged attempt to hide the loans off-books was detected by the Prefecture for the Economy, then led by Cardinal George Pell. Senior officials at the Prefecture for the Economy told CNA that when Pell began to demand details of the loans, especially those involving BSI, then-Archbishop Becciu called the cardinal in to the Secretariat of State for a “reprimand.”
Becciu has previously defended the London investment as “accepted practice,” despite Vatican prosecutors staging raids on the offices of several of Becciu’s closest collaborators in the Secretariat, and despite the arrest of one of the businessmen involved.
CNA has also reported that Becciu was involved in a complicated series of events and financial transactions around the purchase of the Istituto Dermopatico dell’Immacolata (IDI), an Italian hospital that collapsed in 2013 under 800 million euros of debt through theft and fraud.
In 2016, Becciu was instrumental in bringing to a halt Vatican financial reforms initiated by Cardinal George Pell. Although Pope Francis had given the newly created Prefecture for the Economy autonomous oversight authority over Vatican finances, Becciu interfered when the prefecture planned an external audit of all Vatican departments, to be conducted by the firm PriceWaterhouseCooper.