The Mysterious Death of "God's Banker"

This episode investigates the mysterious death of Roberto Calvi, an influential Italian financier, in London, 1982, and delves into the potential connections to organized crime and financial corruption involving the Vatican.

1. Roberto Calvi's death was initially ruled a suicide but later investigations suggested murder.
2. Calvi had deep connections with the Vatican, potentially involving them in scandalous financial practices.
3. His death may have been connected to his role in laundering money for the mafia.
4. The collapse of Banco Ambrosiano was pivotal, affecting numerous high-level stakeholders across Italy.
5. Despite extensive investigations, the true circumstances of Calvi's death remain shrouded in mystery.

1. The Grisly Discovery

The episode opens with the discovery of Calvi's body hanging under Blackfriars Bridge, dressed in a business suit with bricks in his pockets, hinting at a staged suicide. Speaker B: "It looked like a suicide, and now this police officer's job is to recover the body."

2. Calvi's Dark Connections

Exploring Calvi’s intricate ties with Italy's criminal underbelly and high society through the secret society Propaganda Douay, leading to his arrest. Speaker B: "Roberto has come up on the radar of investigators before. For the last six years, he's been the chairman of Banco Ambrosiano."

3. The Vatican's Shadow

Discusses Calvi’s relationship with the Vatican and his desperate, ultimately unheeded appeal to the Pope for rescue from financial ruin. Speaker B: "Roberto writes that Banco Ambrosiano's impending collapse is a catastrophe that he says will damage the Catholic Church."

4. The Fall of a Financier

Covers the aftermath of Calvi’s fleeing Italy, his termination by Banco Ambrosiano, and his final days before the body was found. Speaker B: "Roberto's family insists that the physical evidence does not match a suicide."

5. Unraveling the Mystery

Concludes with the ongoing debate over the cause of Calvi’s death, highlighting the complexities and contradictions in the evidence. Speaker B: "But for Roberto's family to convince prosecutors of the need to reopen a complex case, they'll require hard physical evidence."

1. Be cautious with financial dealings: Ensure transparency and legality in all transactions to avoid potential legal repercussions.
2. Understand the risks of high-stake investments: Awareness of the implications can prevent significant financial loss.
3. Learn from history: Studying cases like Calvi's can offer insights into the intersections of finance, politics, and crime.
4. Practice ethical decision-making: Uphold integrity to avoid compromising personal and professional reputations.
5. Stay informed: Regular updates on financial and political environments can help anticipate and mitigate risks.

June 18, 1982. The body of Italian banker and convicted fraudster Roberto Calvi is discovered hanging from a bridge in London, England.

People

Roberto Calvi, Leccio Gelli

Companies

Banco Ambrosiano, Vatican Bank

Books

None

Guest Name(s):

None

Content Warnings:

References to suicide, organized crime involvement.

Speaker A
There are more ways than ever to listen to history daily ad free listen with wondery in the Wondry app as a member of R@r.com. or in Apple Podcasts. Or you can get all of History Daily plus other fantastic history podcasts@intohistory.com. A listener this episode contains references to suicide and may not be suitable for all audiences.

Speaker B
Its the morning of June 18, 1982 in London, England. A motorboat powers its way through the dull waters of the River Thames. On its deck, a police officer tries to keep his balance as he stares over the bow. Ahead is Blackfriars Bridge, a major river. Crossing in the center of the city.

And as the boat gets closer, the officer waves his hand, directing the pilot to slow down. He can see something beneath the bridge. At 730 this morning, a postman called the police to report a grisly discovery. As he was walking along the path that leads underneath the bridge, the postman spotted someone hanging from a rope. It looked like a suicide, and now this police officer's job is to recover the body.

The boat pilot kills the engine and they float gently alongside the corpse. The dead man is half submerged in the river and the expensive suit he's wearing is glistening and sodden. The officer snaps a few photographs for evidence before putting down the camera and taking hold of the rope around the man's neck. The officer pulls on the rope, trying to lift the body out of the water, but it's far too heavy and barely moves. So the officer asks the boat pilot for help and together they grab the dead man and on the count of three, heave the body into the boat.

As the officer rolls the dead man onto his back, a brick falls out of the mans suit and onto the deck. The officer searches the body and discovers four more bricks in the dead mans pockets. He frowns in confusion because the man. Might have used them to hasten his. Death, but it seems unnecessary.

As the pilot starts the motorboats engine to return to base, the police officer looks at the body, the expensive suit, the rope and the bricks, and can't help but think there's more to this story than a simple suicide.

The police officer's suspicions are soon proven correct. The body belongs to Roberto Calvi, an influential italian financier and convicted fraudster known as God's banker for his close links to the Vatican. But after detectives identify the victim, they'll be plunged into a shadowy world of organized crime, corruption and violence as they try to unravel the mystery of how, how and why Roberto Calvi ended up hanging from Blackfriars Bridge in London on June 18, 1982.

Speaker A
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Speaker B
Use as directed from r in airship I'm Lindsey Graham, and this is history daily.

History is made every day on this podcast. Every day we tell the true stories of the people and events that shaped our world. Today is June 18, 1982. The mysterious death of God's banker.

It's early one morning in March 1981 in Arezzo, a city in central Italy, more than a year before Roberto Calvi is discovered dead in London. An italian detective checks that his bulletproof vest is securely strapped on as he quietly makes his way to the front door of a villa. Theres no sign of movement inside, so the detective turns and gives the signal to the rest of his team waiting behind him. One of them hurries forward with a large battering ramp. He swings it hard against the door, which shatters around the lock.

Then the rest of the team storm inside the villa with weapons drawn. The house belongs to a man named Leccio Gelli. Lechio is a former fascist revolutionary and was implicated in a failed coup eleven years ago. Now hes suspected of being a major player in the italian criminal underworld. Today, the police officers are here to execute a search warrant.

Theyre looking for evidence linking Leccio to an ongoing investigation into bank corruption. After the armed police confirm that Leccio is not home, the detective sets to work searching the house. Leccio is involved in so many shady schemes that its difficult for the detective to work out whats relevant to his investigation and whats not. But he hits the jackpot when he finds a secret compartment hidden within a wall. Inside are papers that list members of a secret society named Propaganda Douay.

Leccio is listed as the organizations leader, but its other members arent crime bosses like him. Instead, theyre powerful figures from across italian society. Among the 961 names on the list are high ranking military officers, prominent politicians, wealthy businessman, and the banker, Roberto Calvi. Roberto has come up on the radar of investigators before. For the last six years, hes been the chairman of Banco Ambrosiano, Italys second largest bank.

But three years ago, Roberto came under suspicion when a convicted fraudster implicated him in illegal dealings. Roberto was accused of using his influence in the banking industry to run up huge unsecured loans. It was also alleged that he had illegally funneled money out of Italy using a complex network of international banks, including the notoriously secretive Vatican bank. Now, with this list in their possession, prosecutors have evidence that Roberto is part of a far larger conspiracy, an underground criminal organization that reaches right into the heart of the italian government. Two months after the raid on the villa in May 1981, 61 year old Roberto is arrested for illegal currency trading.

Robertos fall from grace is swift and spectacular. His appearance in court is front page news in Italy, where pundits speculate that Roberto was involved in nefarious activities like funding the mafia, paying bribes to corrupt politicians, and making shady profits for the Catholic Church. At his trial, Roberto is found guilty and hes sentenced to four years in prison while Banco Ambrosiano is fined the equivalent of almost $20 million. But Roberto doesnt remain in custody long. When his lawyers announce his intention to appeal, Roberto is allowed out on bail.

He even gets to keep his job at the bank, but with conditions. The court insists on a new deputy chairman to keep an eye on operations and ensure that no more illegal trading takes place. So Roberto resumes work. But he has no intention of cooperating with a court appointed supervisor. Instead, Roberto does all he can to make the deputy chairmans job impossible.

And when the chairman starts receiving death threats from the mafia, he decides its not worth the trouble and quits. Hes replaced with another court appointee. But the new deputy is then forced off work when hes wounded in a targeted shooting. The mafias intervention is probably designed to take the heat off Roberto, but it has the opposite effect. Media reports of the shooting and Roberto's high profile trial caused public confidence in Banco Ambrosiano to plummet.

Customers start closing their accounts and taking their business elsewhere. And the crisis only deepens when the bank's value drops 20% in a single days trading on the Milan stock exchange. But thanks to his membership and propaganda due, Roberto has links to prominent figures in the business, media, political and judicial worlds. But no matter how many strings Roberto tries to pull, he cant secure enough money to stop the run on his bank. So if Roberto is to avert catastrophe, he will need divine intervention.

And luckily, he knows just the man to call.

Speaker A
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Speaker B
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historydaily that's greenlight.com historydaily to try Greenlight. For free greenlight.com historydaily its June 5, 1982, at the Banco Ambrosiano head office in Milan, Italy. 13 days before Roberto Calvis body is found in London, Roberto sits at his desk and reads through a letter thats just been typed up by his private secretary. This isnt the first draft. Roberto and his secretary have already been through several versions of the letter.

Speaker B
Theyve been trying to get the tone just right, because the letters recipient is the only person Roberto thinks has the power and wealth to stop his bank going. Under Pope John Paul II, Roberto isnt known as gods banker for nothing. Over the years, hes helped fund countless catholic initiatives and conducted many deals on behalf of the Vatican bank. So in his letter to the pope, Roberto writes that Banco Ambrosianos impending collapse is a catastrophe that he says will damage the Catholic Church. But the letter still treads a fine line.

As well as emphasizing his banks usefulness to the pope, Roberto also wants to imply a subtle threat that if Banco Ambrosiano goes down, the Vatican bank might be implicated in criminal activities. Finally, satisfied with the language of the letter, Roberto signs his name and asks his private secretary to send it immediately. Then Roberto settles back to await the popes response. But after five days, Roberto still hasnt got an answer. The pope has chosen to ignore robertos threats and stay out of the Banco Ambrosiano crisis.

This leaves Roberto out of options, so he decides to flee Italy. It means breaking his bail conditions, but he doesnt think he has a choice anymore. He throws together a bag of clothes. And fills a briefcase with cash and various currencies worth more than $14,000 in total. He also packs a fake passport made by one of his dubious associates.

And then, just before leaving, he shaves off his mustache to further conceal his identity. Then he arranges a car to drive him away from his home, his work, and his entire life. Over the next few days, Roberto flees Italy and makes his way to Switzerland. From there, he charters a private plane to Britain. And six days after leaving Italy.

He arrives at the London home of a fellow member of the criminal organization propaganda Douay. The next day, word reaches him that hes been fired by Banco Ambrosiano. Worse news soon follows. Back in Italy, Robertos private secretary commits suicide by jumping from her office window. She leaves behind a note blaming Roberto for the banks problems.

But hell never read it. Because the following day, Roberto himself is discovered hanging from blackfriars bridge. In another apparent suicide, british investigators initially draw a blank as to who the. Body under the bridge belongs to. The only clue they have is the fake passport.

But after italian authorities put out a warrant for Roberto's arrest, the body's true identity is revealed. And as detectives in London investigate, they. Soon find out that Roberto skipped bail. And was due in court in Italy to appeal his conviction for fraud. Two weeks after Roberto's death, Banco Ambrosiano finally collapses with debts worth up to $1.5 billion.

With all this evidence, the british coroner rules Roberto's death was a suicide. And suggests that he was simply unable. To cope as his bank collapsed and. His reputation was left in tatters. But not everyone agrees.

Roberto's family insists that the physical evidence does not match a suicide. To hang himself from Blackfriars Bridge, Roberto would have had to climb down a ladder, cross some scaffolding and shimmy across a narrow ledge before tying a rope to an iron arch, all while apparently. Carrying several heavy bricks. It doesn't add up for them. And many suggest that the mafia may have killed Roberto as punishment because the banks failure stopped their money laundering operation.

Still others theorize that Roberto may even have been killed on the orders of the Catholic Church to cover up the Vatican's knowledge of Roberto's illegal currency trading. But one prime suspect stands out above all others. Leccio Gelli, the organizer of the secretive propaganda douay. Soon, Roberta's family are convinced that Leccio ordered Roberto's murder. To prevent him speaking out about the criminal underworld.

They both moved in. But for Roberto's family to convince prosecutors of the need to reopen a complex case, they'll require hard physical evidence. And for that, they'll need to return to the body of Roberto Calvi.

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Speaker A
It'S December 1998 at. A cemetery in Drezzo, a small town in northern Italy. 16 years after the death of Roberto Calvi. American private investigator Jeff Katz stands by the side of a grave, a little unsure how to act. Its a solemn location, but Jeff isnt here to see a body lowered into the ground.

Speaker B
Instead, hes here to witness the exhumation of the cemeterys most notorious resident, Roberto Calvi. Ever since Roberto's death, his family has contested the original conclusion of the british coroner that Roberto killed himself. A second inquest in Britain concluded that the exact cause of death could not be established, but that was still not enough for Roberto's family. They suspected foul play, so they hired Jeff to investigate on their behalf. After the gravediggers retrieve Roberto's coffin, Jeff escorts it to a forensic pathologist for a series of tests.

They soon uncovered the evidence Jeff was hoping for. Roberto's fingers have no trace evidence of the bricks that were found in his pockets, meaning that he didn't put them there himself. And Roberto's neck shows no sign of the injuries usually associated with death by hanging. And that means he was probably already dead before his neck was put in the noose. This allows forensic experts to come to a new conclusion.

Roberto did not commit suicide. He was murdered. It will take years for Jeff Katz to persuade british and italian prosecutors to reopen the case. But eventually, five members of the mafia will be charged with Roberto's murder. But the prosecutors will fail to convince a jury of their guilt, thanks to limited evidence.

Meanwhile, Liccio Gelli will never be formally charged over the conspiracy to kill Roberto, although he will spend most of his. Later years under house arrest at his. Villa in Arezzo on other charges. So the death of Roberto Calvi remains open today. The exact fate of gods banker as much a mystery now as it was when his body was first discovered hanging from Blackfriars Bridge in London on the morning of June 18, 1982.

Next on History daily June 19, 1968. Over 50,000 people march on Washington, DC to protest economic injustice in an event called Solidarity Day.

From noiser and Airship, this is History Daily. Hosted, edited, and executive produced by me, Lindsey Graham. Audio editing by Mohammed Shazi sound design by Matthew Filler music by Thrum this episode is written and researched by Scott Reeves, edited by Dorian Marina. Managing producer Emily Burke. Executive producers are William Simpson for airship and Pascal Hughes for R.

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