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.
Was this article valuable?
Here are more articles you may enjoy.
Brown & Brown Reports Strong Q3 Revenue Growth of 35.4% 
Alaska Airlines Vows IT Upgrades After Outage Forces 400 Flight Cancellations 
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
Truck Driver in Fatal Crash Repeatedly Failed Driving Tests, Florida AG’s Office Says From This Issue
