Former head of Vatican bank guilty of embezzlement, money laundering

FILE PHOTO: The former president of the Institute for Works of Religion (IOR) Angelo Caloia is seen during the first hearing of his trial at the Vatican, May 9, 2018. Picture taken May 9, 2018. Osservatore Romano/Handout via REUTERS

VATICAN CITY (Reuters) - A court on Thursday convicted Angelo Caloia, a former head of the Vatican bank, on charges of embezzlement and money laundering, making him the highest ranking Vatican official to be convicted of a financial crime.

Caloia, 81, was president of the bank, officially known as the Institute for Works of Religion (IOR), between 1999 and 2009.