[CTRL] Priest Admits Aiding Frankel - Used Vatican Bank To Launder Money

[Smart News]

-Caveat Lector- Priest Admits Aiding Frankel - Used Vatican Bank To Launder Money 9/6/02 By Edmund H. Mahony, New Haven -  "A frail, 82-year-old Italian priest admitted in court Thursday that he used a Vatican bank account and manipulated Roman Catholic foundations to disguise a scheme by Greenwich financier Martin Frankel to loot hundreds of millions of dollars from U.S. insurance companies....Colagiovanni became part of a scheme Frankel created to hide the fact he was buying nearly a dozen insurance companies in the Midwest and southwestern United States. Frankel needed to steal money from the insurance companies to pay off more than $6 million he had stolen earlier from investors in a securities fund he controlled." http://www.ctnow.com/news/local/hc-frankel0906.artsep06.story
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