BRIDGEPORT, Connecticut (AP) -- A monsignor who has counseled Pope John Paul II appeared in court Friday on charges alleging he used his Vatican ties to help an international financier scam millions from insurance companies.
Federal prosecutors say Monsignor Emilio Colagiovanni, 81, who lives in Rome, aided financier Martin Frankel, who is accused of buying up insurance companies, then looting them of more than $200 million.
Colagiovanni, who has served on the board that provides legal counsel to Pope John Paul II, was charged Thursday with wire fraud and conspiracy to commit money laundering. He was arrested in Cleveland as his family was preparing to attend a memorial Mass for his sister.
He appeared Friday in federal court in Connecticut and was released after securing $500,000 bond. He will be under house arrest and must wear a monitoring device.