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...Vatican Bank, who is said to have been scheduled for immediate removal; Roberto Calvi, president of Banco Ambrosiano, who faced ruin if his trickery with Vatican funds was discovered; Michele Sindona, the Sicilian banker who knew about the Vatican Bank's alleged laundering of Mafia money; Licio Gelli, grand master of P2, which is supposed to have boasted some 100 Vatican members; and last but not least, the late John Cardinal Cody of Chicago, who had been tipped off that he would be asked to resign...

Author: /time Magazine | Title: The Vatican: Poison Gossip | 6/18/1984 | See Source »

...five years, including Villot and Marcinkus. Sindona, who is serving a 25-year jail term in a New York prison for fraud, and Calvi, who was found hanging from a London bridge in 1982, had dire financial problems, but none that a papal murder would alleviate. News about Gelli's P-2 lodge did help topple the Italian government of Prime Minister Arnaldo Forlani in 1981, but only because so many government officials belonged to the illegal organization; no Vatican prelate was ever proved to be a member...

Author: /time Magazine | Title: The Vatican: Poison Gossip | 6/18/1984 | See Source »

...Calvi fled to London. There he apparently hanged himself last June, although many Italians believe he was murdered. An attorney general of a Swiss canton has since discovered that close to $100 million of Banco Ambrosiano's money had been stashed in numbered Geneva accounts. And Licio Gelli knew the numbers...

Author: /time Magazine | Title: Italy: Bank Error | 9/27/1982 | See Source »

...What Gelli presumably did not know was that numbered Swiss accounts, under newly modified regulations, are no longer immune to police investigations. Before Gelli flew in seeking the money, the Geneva bank had frozen his account and permitted a police stakeout...

Author: /time Magazine | Title: Italy: Bank Error | 9/27/1982 | See Source »

Staggering charges await Gelli in Italy if, as expected, he is extradited. They will probably include political and military espionage, illegal possession of state secrets and fraud. Magistrates investigating yet another incident that rocked Italy have reason to suspect that Gelli played a behind-the-scenes role in the explosion of a terrorist bomb in the Bologna railroad station on Aug. 2, 1980. The bomb killed 85 people and injured another...

Author: /time Magazine | Title: Italy: Bank Error | 9/27/1982 | See Source »

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