EXPLAINER: Behind the Vatican’s London real estate scandal

ROME (AP) — The Vatican has set a July 27 trial date for 10 people, including a once-powerful cardinal and papal contender, on charges related to the Holy See’s 350 million euro investment in a luxury London real estate venture.The 487-page indictment capped a two-year investigation that exposed how the Vatican had lost millions of euros — much of it donations from the faithful — in fees to brokers, bad investments and other questionable expenses. Beyond that, the indictment alleges a variety of charges against the defendants, including extortion, embezzlement, abuse of office and corruption. The Vatican has said Pope Francis’ willingness to expose the crimes and prosecute even a high-ranking cardinal is evidence of his commitment to reforming the Vatican’s murky finances.