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...some icing by establishing a charitable trust with connections to the Vatican--the ultimate cover. Through a prominent New York City attorney, Thomas Bolan, Frankel met with Father Peter Jacobs, a gadabout clergyman who has ties to New York luminaries, including Walter Cronkite. Jacobs introduced Frankel to Monsignor Emilio Colagiovanni, a Vatican official. Frankel claimed that his St. Francis of Assisi Foundation would distribute more than $2 billion to Catholic charities. He took to obsessively studying the lives of the saints, almost as avidly as he consulted astrological charts. He got the monsignor's blessing...

Author: /time Magazine | Title: Missing: One Man, Many Millions | 7/5/1999 | See Source »

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