The World - News from June 9, 1985
A judge in Milan, Italy, has absolved American Archbishop Paul Marcinkus and two other directors of the Vatican bank of involvement in a fraudulent loan, legal officials said. Marcinkus, 63, president of the bank, formally known as the Institution for Religious Works, and two of the bank’s directors, Luigi Mennini and Pellegrino De Stroebel, were formally notified in February, 1984, that they were under investigation for suspected embezzlement resulting from a loan, then worth $70 million, made to the Italian property company Italmobiliare in 1972.
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