Since November 2019, the company has had only one listed director: Luciano Capaldo, an architect and property developer with connections to businesses linked to Torzi.
Four directors have been appointed to the London 60 Sa Ltd since it was registered in early 2019; three were removed between August and November 2019. Two of those removed are former staff members at the Vatican secretariat, who were removed from their posts after raids at the secretariat in October, 2019.
In June, Vatican prosecutors arrested Torzi, who has been charged with extortion, self-laundering, aggravated fraud, and embezzlement.
Although Torzi was meant to be acting on behalf of the Vatican’s interests in its dealing with Mincione, CNA has reported on the potential conflicts of interest in the deal:
That Mincione owed millions of euros to one of Torzi’s companies at the time of the transaction. And that Mincione had invested 10 million euros of Vatican funds in Sierra One, a bond of securitized debt, including some debt from mafia-linked companies, which was packaged and sold by Sunset Enterprise Ltd., a company controlled at that time by Torzi.
Sierra One’s administrator was Giacomo Capizzi, a business associate of Torzi. Capizzi is the CEO of Meti Capital, a company of which Capaldo owns personally almost 3%, and in which Torzi's company, Sunset Enterprises, is also a shareholder.
Capizzi is also CEO of Imvest, a property development company listed in Rome. Imvest’s largest shareholder is Meti Capital.
Luciano Capaldo was chairman of Imvest from 2017 to 2018. He stepped down for “personal and family reasons,” on Nov. 26, 2018, during the same week the Vatican finalized its purchase of the London property.
Another stakeholder in Imvest is FEG International Assets SA, an anonymously incorporated company in Luxembourg that, in 2016, was run by Torzi.
In 2019, FEG and Torzi were named in a commercial fraud suit in London’s High Court. Also named as respondent was Torzi’s former company Odikon Services PLC, a company of which Capaldo was secretary from May to November 2018, and an investor in Meti as of December 2017.
Capaldo stepped down as the secretary of Odikon in November 2018, the same month he ceased being chairman of Imvest and the Vatican’s London property deal was finalized by Torzi.