Pandora Papers – Catholic fundamentalists hide millions in Geneva banks
Catholic fundamentalists hide millions in Geneva banks
The controversial “Legionaries of Christ” order hoards a huge fortune through two offshore structures. The people abused by religious priests, on the other hand, are still waiting for compensation.
The friars are often referred to in Catholic circles as “Christ’s millionaires”. That she got the nickname R.The Pandora Papers now show: The Legion, which originates from Mexico and is now internationally activeare Christ was not only able to raise a lot of money in wealthy circles, but also hide the funds well – in two trust funds.
According to documents from offshore provider Asiaciti, these two trusts had around $ 300 million at the end of 2017. The money was in Geneva in accounts of the banks Pictet, Credit Suisse, JP Morgan and Lombard Odier. The trusts called “AlfaOmega” and “Salus” were founded by the order’s chief financial officer, Luis Garza Medina, and two of his brothers. The Garza Medina family owns the “Grupo Alfa” in Mexico with companies in the frozen food, petrochemical, aluminum and telecommunications sectors.