Vatican Bank Director Resigns Amid Scandal

Under investigation over possible money-laundering.

The director of the embattled Vatican bank and his deputy have resigned following the latest developments in a broadening finance scandal.

The Vatican said Monday that Paolo Cipriani and his deputy, Massimo Tulli, offered to step down "in the best interest of the institute and the Holy See."

Cipriani, along with the bank's then-president, was placed under investigation by Rome prosecutors in 2010 for alleged violations of Italy's anti-money-laundering norms after financial police seized 23 million euro ($30 million) from a Vatican account at a Rome bank. Neither has been charged and the money was eventually ordered released.