Monsignor Emilio Colagiovanni, an 81-year old Catholic Priest, is being held in Bridgeport, Conn. following his arrest by FBI agents in connection with the investigation of the multi-million dollar fraud and embezzlement case against financier Martin Frankel.
According to a report in the Hartford Courant, Colagiovanni, an Italian who lives in Rome, allowed Frankel to use the name of the Monitor Ecclesiastus Foundation, which he heads, as part of his scheme to wrongfully transfer the funds of several insurance companies Frankel controlled.
Federal prosecutors in Conn. obtained a warrant for Colagiovanni’s arrest when they learned that he was visiting relatives in Ohio.
Topics Fraud
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
Experian Launches Insurance Marketplace App on ChatGPT 
US Supreme Court Rejects Trump’s Global Tariffs 
