Joe Bruno on the Mob – Missing Italian Bank Money Found in the Bahamas


I guess the attitude of banker Roberto Calvi, called “God’s Banker,” was if you’re going to steal, you might as well steal big.

Calvi was the chairman of the Banco Ambrosiano Overseas Limited, which collapsed in 1982 due to lack of funds. The bank’s largest shareholder was the Vatican (God’s Banker?) and the missing funds have since been traced to accounts in the Bahamas and in South America.

The amount missing? $800 million!

Now the Italian government is certain hundred of millions are stocked away in bank accounts in the Bahamas. They have been requesting the Bahamian government to return those funds since 2005, but so far have been met with deaf ears.

To make matters more dicey, in the Banco Ambrosiano Overseas Limited scandal, there have been reports that the Mafia was involved, and that several murders may have been committed before the $800 million suddenly disappeared.

As for Calvi, he was arrested in 1981 for illegally transporting money out of Italy. But at his trial he was given only a 4-year suspended sentence.

In 1982, Calvi was found suspended himself: suspended with a rope around his neck, from scaffolding beneath Blackfriars Bridge in the financial district of London. Calvi’s clothing was stuffed with bricks, and he was carrying around $15,000 worth of cash in three different currencies.

Calvi’s death was ruled murder because Calvi had been a member of Licio Gelli’s illegal masonic lodge, P2, and members of P2 referred to themselves as frati neri or “black friars”. This has led to a suggestion in some quarters that Calvi was murdered as a masonic warning, because of symbolism associated with the word “Blackfriars,” the bridge from which Calvi was hung.

Makes sense to me, or does it?

So Calvi stole the money, and someone, probably connected to the Mafia, or to a Masonic Lodge, killed him. Now, almost 30 years later, the money is still missing, but some of it is in bank accounts in the Bahamas (the Italian authorities think). The Bahamian government is dragging their feet as to returning the money, and if I had to guess, I’d say the money will disappear again.

Simple fact – the Mafia doesn’t return their victim’s money. And I’m sure the Mafia, or the Masons, or whomever has the money in bank accounts in the Bahamas, has spread plenty of cash around in the Bahamas to make sure the money is never returned to Italy.

Wanna bet I’m wrong?

The article below, which appeared in the Bahama Tribune, can be found at :

Bahama Tribune
Government in talks over bank scandal investigation
Published On:Thursday, August 11, 2011
THE BAHAMAS government is in active discussions with investigators concerning the longstanding, multi-million dollar Banco Ambrosiano investigation, the attorney general confirmed yesterday.
While he was unable to comment further on the requests, Attorney General John Delaney said that there was an active dialogue between Italian authorities and the Office of the Attorney General, which acts as the Bahamas’ authority for international legal cooperation.
Since investigators traced several hundred million of missing funds to accounts in the Bahamas in 2005, sources claimed that local authorities had ignored official requests for assistance – the most recent of which was sent in 2008.
Mr Delaney wrote: “Communications between a foreign requesting authority and the OAG in any matter are conducted under an understanding of confidentiality.
“In this matter there have in fact been responses from The Bahamas in relation to requests received and, with the concurrence of the requesting authority, I am able to confirm that dialogue is active and ongoing.”
Foreign news reports indicate that the whereabouts of hundreds of millions of dollars linked to the collapse of Banco Ambrosiano in the early 1982 is one of the biggest bank scandals in history.
The tale of murder, Mafia plots, international money laundering schemes, and clandestine Masonic sects, placed the Bahamas branch of the bank, Banco Ambrosiano Overseas Limited, at the very centre of the scandal.
According to the press in Italy and the UK, Italian prosecutors are looking for funds allegedly squirreled away by former bank chairman Roberto Calvi, known as “God’s banker” because the Vatican Bank was the largest shareholder.
In years leading up to the collapse, Calvi set up companies in the Bahamas and South America to which he funnelled hundreds of millions in bank funds. It is claimed that $800 million in total went missing.


One Response to “Joe Bruno on the Mob – Missing Italian Bank Money Found in the Bahamas”

  1. Thanks for the kind words, Quentin.

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