Word: frauds
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Dates: during 1980-1989
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...billion missing from Milan's Banco Ambrosiano, Italy's eleventh largest bank, and the apparent suicide in June of its president, Roberto Calvi, Italian authorities tried to serve notice on three of the top officials of the Vatican bank that they were under investigation for possible bank fraud. Among them was American-born Archbishop Paul Marcinkus, 60, the president of the bank, which is officially known as the Institute per le Opere di Religione (I.O.R.), or Institute for Religious Works. Earlier, the Vatican's top banker had served as both a papal bodyguard and aide to Pope...
Plagiarism and fraud charges rock the Seventh-day Adventists
...million-member Seventh-day Adventist Church is normally the most doctrinally placid and prosperous of faiths. Lately, however, it has fallen into unaccustomed uproar. For starters, church members are suing Adventist officials in an Oregon court for fraud and breach of fiduciary trust, stemming from the 1981 bankruptcy of fellow Adventist Donald Davenport, a Los Angeles developer. The suit charges that without adequately checking Davenport out, Adventist clergy blithely invested church trust funds with him and urged church members to make their own investments. As his empire collapsed, Davenport supposedly used newly raised moneys to cover payments due to previous...
Mitsui pleads guilty to fraud...
...Japan worsened last week when still another Japanese company became ensnared in an American criminal prosecution. In San Francisco the U.S. subsidiary of Mitsui & Co., Ltd. (1981 sales: an estimated $45 billion), one of Japan's largest trading companies, pleaded guilty to a 21-count customs fraud indictment in connection with steel exports to the U.S., and agreed to pay $11.2 million in civil and criminal fines. The penalties against the company, which handles about 40% of Japanese steel sales in America, were the heaviest in the 193-year history of the U.S. Customs Service...