Sunday, 31 August 2008

Massimo Spada

Prince Massimo Spada - Italian Banker & Businessman

Prince Massimo Spada, who is a senior official at IOR, and by 1960 has purchased his own bank called Banca Privata which is receiving deposits from the Vatican bank.
One of Sindona's first steps in cultivating the Vatican's money men occurred in the late 1950s when through a priest, he met Prince Massimo Spada, a Vatican nobleman and the senior layman at IOR. [Massimo Spada had become a Knight of Malta on September 21, 1944. IOR, the Istituto per le Opere di Religione (Institute for Religious Works), known generally as the Vatican Bank, was created in 1942 by Pius XII.] At the same time he nurtured his friendship with Giovanni Montini, who had become cardinal-archbishop of Milan in 1954.
Another [SMOM] Knight, who played a profound role in Italy's postwar financial, economic and political history was Prince Massimo Spada, the leading lay financier of the Vatican's Institute for Religious Works, commonly called the "Vatican Bank." Spada gave the mafia-connected heroin launderer and later P2 financier Michele Sindona his entrée into the Vatican's finances, which, given the tax-sheltered, sovereign status of the Church within Italy (as negotiated in the 1929 Concordat between Mussolini and the Holy See), was invaluable for running all kinds of dirty operations.


The most important of these "men of confidence" was Prince Massimo Spada (a Vatican title), who had been inducted as a Knight of Malta in 1944. Spada either chaired or sat on the board of an astounding array of the holdings Nogara purchased. Noting only a few of the more important (and their capital), as of the late 1960s, these included: He was vice-president of the Banco di Roma (one of Italy's largest banks, historically associated with Rome's black nobility), and sat on the board of its Swiss subsidiary; Italy's biggest domestic gas company, Società Italiana per il Gas (37,412 million liras); president of the Trieste-based Riunione Adriatica di Sicurtà insurance company (4.320 billion liras); vice president and managing director of the L'Assicuratrice Italiana; vice president of both the Unione Subalpina di Assicurazioni and of the Lavoro e Sicurtà (750 million liras); Shell Italiana, the Italian subsidiary of Royal Dutch Shell (129 billion liras invested in Italy); vice president of the Istituto Bancario Italiano (10 billion liras) and the Credito Commerciale di Cremona (2 billion liras); board member of the Banca Privata Finanzaria; board member of the huge financial holding companies, Società Meridionale Finanziaria (122 billion liras) and the Istituto Centrale Finanziario (150 million liras); vice president of the Finanzaria Industriale e Commerciale; president of the Banca Cattolica del Veneto (3 billion liras); board of directors of FINSIDER, a state-controlled holding company (195 billion liras), which is part of IRI, the Istituto per la Ricostruzione Industriale, formed during the Fascist regime, which constituted the country's largest cartel and controlled the biggest shipyards; the Italia shipping line; Alitalia airlines; Alfa Romeo; and the entire telephone system. FINSIDER produced at the time over 90% of Italy's steel and was the backbone of IRI. Spada was also a board member or executive of dozens more banks, insurance, and industrial companies. In 1963 he was appointed Privy Chamberlain of Sword and Cape, one of the highest of all Vatican titles, one also held by his brother Filippo.[11]

With all of this enormous power, and despite his leading position in the Catholic Church, Spada sponsored the rise of Michele Sindona as one of the Vatican's "men of confidence." His choice was most peculiar, not only because Sindona had been a Fascist during the war, but because during that time he had made connections (through American OSS-connected mobster Vito Genovese) to the Inzerillo and Gambino crime families, for whom he laundered heroin money.
P-2 was unmasked in 1981 during police investigations into the Mafia contacts and financial crimes of Italian banker Michele Sindona, who for many years was the chief influence in the Vatican Bank, thanks to his contacts with Paul VI and Prince Massimo Spada, a Vatican nobleman, top financial adviser to the Holy See, and a Knight of Malta. Numerous members of P-2 also turned out to be Knights of Malta, including several military and police intelligence chiefs and bankers.
Banco di Roma (vice-president was SMOM member Prince Massimo Spada in the late 1960s)
Riunione Adriatica di Sicurtà; a sister company to the Generali, owned by Allianz since 1984; president was SMOM member Prince Massimo Spada in the late 1960s; included among its directors members of the Giustiniani family (descendants of the malevolent emperor Justinian), the Doria family (chief Genoese financiers of the Spanish Hapsburgs), and the Duke of Alba (descendant of the brutal Spanish marcher-lord whom the Genoese bankers sent to the Netherlands four centuries ago to crush their independence)
Prince Massimo Spada, senior layman at the Vatican Bank and SMOM member since 1944, was vice president and managing director of the L'Assicuratrice Italiana in the late 1960s
Italy 1959-1982

* Cornwell,R. God's Banker. 1984 (37, 126)
* DiFonzo,L. St.Peter's Banker. 1983 (31-2, 34, 36-41, 44-5, 109, 260)
* Gurwin,L. The Calvi Affair. 1984 (12)
* Lernoux,P. In Banks We Trust. 1984 (187)
* Lernoux,P. People of God. 1989 (290)
* National Reporter 1986-W (61)
* Tosches,N. Power on Earth. 1986 (42-7, 110-1, 120, 123, 234)
* Yallop,D. In God's Name. 1985 (124, 157-9, 329)

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