section_path: Other criticism and controversy/Banco Ambrosiano scandal
section_name: Banco Ambrosiano scandal
paragraph_text: Banco Ambrosiano scandal
  
  John Paul II was alleged to have links with Banco Ambrosiano, an Italian bank that collapsed in 1982. At the centre of the bank's failure was its chairman, Roberto Calvi, and his membership in the illegal Masonic Lodge Propaganda Due (aka P2). The Vatican Bank was Banco Ambrosiano's main shareholder, and the death of John Paul I in 1978 is rumoured to be linked to the Ambrosiano scandal.
  
  Calvi, often referred to as "God's Banker", was also involved with the Vatican Bank, and was close to Bishop Paul Marcinkus, the bank's chairman. Ambrosiano also provided funds for political parties in Italy, and for both the Somoza dictatorship in Nicaragua and its Sandinista opposition. It has been widely alleged that the Vatican Bank provided money for Solidarity in Poland.
  
  Calvi used his complex network of overseas banks and companies to move money out of Italy, to inflate share prices, and to arrange massive unsecured loans. In 1978, the Bank of Italy produced a report on Ambrosiano that predicted future disaster. On 5 June 1982, two weeks before the collapse of Banco Ambrosiano, Calvi had written a letter of warning to John Paul II, stating that such a forthcoming event would "provoke a catastrophe of unimaginable proportions in which the Church will suffer the gravest damage". On 18 June 1982 Calvi's body was found hanging from scaffolding beneath Blackfriars Bridge in the financial district of London. Calvi's clothing was stuffed with bricks, and contained cash valued at US$14,000, in three different currencies.
  
  John Paul II was alleged to have links with Banco Ambrosiano, an Italian bank that collapsed in 1982. At the centre of the bank's failure was its chairman, Roberto Calvi, and his membership in the illegal Masonic Lodge Propaganda Due (aka P2). The Vatican Bank was Banco Ambrosiano's main shareholder, and the death of John Paul I in 1978 is rumoured to be linked to the Ambrosiano scandal.
  
  Calvi, often referred to as "God's Banker", was also involved with the Vatican Bank, and was close to Bishop Paul Marcinkus, the bank's chairman. Ambrosiano also provided funds for political parties in Italy, and for both the Somoza dictatorship in Nicaragua and its Sandinista opposition. It has been widely alleged that the Vatican Bank provided money for Solidarity in Poland.
  
  Calvi used his complex network of overseas banks and companies to move money out of Italy, to inflate share prices, and to arrange massive unsecured loans. In 1978, the Bank of Italy produced a report on Ambrosiano that predicted future disaster. On 5 June 1982, two weeks before the collapse of Banco Ambrosiano, Calvi had written a letter of warning to John Paul II, stating that such a forthcoming event would "provoke a catastrophe of unimaginable proportions in which the Church will suffer the gravest damage". On 18 June 1982 Calvi's body was found hanging from scaffolding beneath Blackfriars Bridge in the financial district of London. Calvi's clothing was stuffed with bricks, and contained cash valued at US$14,000, in three different currencies.