The Catholic Church, already struggling with the sex
abuse scandal, has been hit by revelations of theft, opaque
accounting and extravagance.
Over €131,000 was stolen by Catholic priest Hans S., 76, who is
now waiting for his trial. The public prosecutor estimates that
Hans S. embezzled up to €1.5 million.
Over €40 million is missing in the Diocese of Magdeburg, €5
million in Limburg and a senior priest in Münster had 30 secret
bank accounts.
And while parishes are cutting jobs and funds for community
work, many bishops are still living the high life.
"The Catholic Church claims that it's poor, but the truth is
that it hides its wealth," says Carsten Frerk, a political
scientist who is publishing "The Violet Book of Church Finances''
after years of research.
Frerk estimates the cash assets of the church at €50 billion.
The Catholics, are not releasing their own figures.
The assets are invested in real estate, CHURCH-OWNED BANKS,
academies, breweries, vineyards, media companies, hospitals, stock
holdings, foundations and bequests.
Only a bishop is familiar with this shadow budget, which tax
authorities DON'T review.
the Archdiocese of Cologne has a budget of €863 million, with
assets estimated at several billion euros !!
the Catholic Church in Germany receive generous payments from
the government. There's also the church tax (about €10 billion a
year), and annual subsidies to the church which amounted to €17
billion !!!
The church pay no property tax, no corporate tax and no capital
gains tax and not subject to any state supervision.