The Vatican was "utterly let down" by an Italian financier over the Catholic Church's botched investment in a high-end London property, a judge ruled on Friday following a trial at which a senior aide to Pope Francis gave evidence.

The British High Court said the Vatican “had reason to consider itself utterly let down” in its experience with Raffaele Mincione, who had managed the money-losing investment for the Holy See for a number of years before another financier took over.