Word: sindona
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Dates: during 1980-1989
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Even before the Banco Ambrosiano affair, though, Marcinkus had been touched by financial scandal. In 1973 Italian-American Financier Michele Sindona sold two companies to Calvi for what was considered the greatly inflated price of $100 million. According to Giorgio Ambrosoli, the court-appointed liquidator of the Sindona empire at the time, Sindona paid a $5.6 million commission as part of the deal to "an American bishop and a Milanese banker." Official Italian sources have confirmed that Ambrosoli was refer ring to Marcinkus and Calvi. It is still not clear why the two allegedly received this money...
...investigation of the Sindona payoffs has been stymied by Ambrosoli's murder. In 1979, only hours after talking to U.S. authorities about the commission deal, he was shot to death by three men in the street outside his home. One year ago, Sindona was charged with instigating Ambrosoli's murder, and an Italian American named William J. Arico, 46, was said to be one of the men who actually carried out the killing. Last month the FBI arrested Arico, who is reputed to be a hired Mafia gunman, in Philadelphia. Italy has asked for his extradition...
...Banker" because of the Vatican's substantial dealings with the Banco Ambrosiano. At the time of his death, he was appealing a four-year sentence for illicitly exporting $26.4 million in violation of Italian currency laws, and his name had become increasingly linked with Financier Michele Sindona, currently serving a 25-year sentence in the U.S. for his role in the collapse of New York's Franklin National Bank. Not long after the billion-dollar "hole" was discovered, Calvi disappeared from his elegant Rome apartment. He had been reported missing until his body, weighted down with...
...organization. What makes the P2 affair especially explosive, however, is the specter of the vast conspiracy raised in an investigating magistrates' report that also was divulged by Forlani. The scandal originally came to light during an investigation by Milan judicial officials into the affairs of Sicilian Financier Michele Sindona, an accused P2 member currently serving a 25-year prison sentence in the U.S. for fraud in connection with the 1974 collapse of the Franklin National Bank. Investigating magistrates claimed to have found evidence that lodge members had helped Sindona skip bail in New York in 1979 by faking...
...though, Congress has moved cautiously against foreign banks. With a few notable exceptions like Italian Financier Michele Sindona, whose $45 million fraud drove New York's Franklin National Bank into bankruptcy in 1974, overseas investors have generally poured needed capital into American banks and made them stronger. Concedes Citibank Chairman Walter Wriston: "The consumer benefits from all this new competition." Moreover, an attack on foreign banks here could provoke retaliation against their American counterparts in Europe and Japan. While foreigners hold $211 billion in U.S. banking assets, Americans control $361 billion overseas...