Word: ambrosiano
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Dates: during 1982-1982
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High-ranking Vatican sources have already suggested that Marcinkus will be staying behind when Pope John Paul II travels to Spain next month. The reason is that Vatican officials want the archbishop around to answer any questions that might arise concerning his role in the Banco Ambrosiano affair...
...financial adviser to the Vatican. Though he still insists that he was framed in the Franklin affair by powerful Italian state banking interests who would not produce documents that would clear him, he readily admits to being deeply involved in the events that led to the downfall of Banco Ambrosiano and its late president, Roberto Calvi. In a mild, authoritative voice that occasionally erupted into impassioned Italian, Sindona spoke at length with TIME Correspondent Jonathan Beaty, sometimes disputing versions of the story that have emerged thus far and offering revealing glimpses of its protagonists. Some of the statements of Sindona...
Sindona contends that he first met Calvi, then a junior executive with Banco Ambrosiano, around 1967. The two agreed that Calvi would act as inside man in a plan to gain eventual control over the bank and make it international...
Says Sindona: "Our goal was to buy control in Banco Ambrosiano." Sindona says that he first introduced Calvi to Archbishop Paul Marcinkus in 1971, the year the priest became president of the Vatican bank. Sindona strongly denies that he paid Calvi and Marcinkus a $6.5 million commission as part of a business deal in the early 1970s, as has been widely reported. Says Sindona: "I did give $6.5 million to Calvi, much more than that, but that was to buy shares of Ambrosiano and other stocks. None went to Marcinkus unless Calvi gave it to him." Sindona insists that Marcinkus...
...Pope John Paul II look more closely into his bank's affairs? "John Paul is not a financial man," says Sindona. "The people around him were afraid of Marcinkus' power." Sindona claims that Ambrosiano paid the I.O.R. some $20 million in fees and interest in 1981 alone. Sindona was critical of his carefully chosen colleague. Calvi, says Sindona, "had no interests, only money and power. He was no good at choosing other people. If counts or barons went to him, he was immediately impressed. Calvi was known for paying a lot of money in Italy...