The Banco Ambrosiano was closely associated with the Vatican, which was its biggest shareholder. Another owner was the Mafia, which probably used the bank to launder some of its ill-gotten gains. The chairman of the bank was Roberto Calvi, a man with an interesting past. He joined the bank in 1946 when it was a small savings institution and he built it into a global player. The Independent notes that Calvi “worked hand-in-glove with Michele ‘The Shark’ Sindona, a Sicilian banker well connected with both the Mafia and the Christian Democrat political establishment.”
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