Imperial Valley Press

11-YEAR HUNT F.B.I. Catches Banker
SAN FRANCISCO, Sept. 5 (UP)
A Chicago banker who disappeared 11 years ago leaving a bank shortage of $154,539 was held in jail with his wife and two sons today on a charge of concealing assets from a bankrupt estate.
Federal bureau of investigation agents arrested the Italian-born banker, Saverio Ariani, 64, his wife, Minnie, and their sons, Carlo, 33 and Romolo, 30, at their San Francisco home where Ariani lived under the name of Carlo Oviani. The officers also seized $48,300 in cash and securities including $10,000 in gold coins which may not be possessed under federal law.
BANK PRESIDENT
Ariani was president of the Italian State bank at Chicago, which was owned by his family, when he disappeared in 1941 on the eve of an audit by state bank examiners. He was indicted on an embezzlement charge, but the indictment later was dismissed with leave to reinstate.
A conspiracy indictment against Carlo also was dismissed.
N. J. L. Pieper, head of the San Francisco FBI office, said Illinois examiners warned Ariani Sept. 8, 1931, that the bank would be closed the next morning unless he supplied new capital and reduced his liabilities.
Ariani allegedly made loans to himself and his wife, resulting in losses.
"Ariani also speculated in National City bank of New York stock and became indebted to the National City company to the extent of $82,686," Pieper said.
CONSPIRACY
The arrest was made on a complaint filed at Chicago charging the family with conspiring to conceal about $13,400 from the cash value of insurance policies belonging to Saverio Ariani's bankrupt estate.
Ariani disappeared before the indictments were returned and his wife and the sons vanished later.
The case was brought to the attention of the FBI a month ago in Chicago during routine examination of bankruptcy records, and the family was traced through insurance records.
After Ariani absconded, his creditors filed an involuntary bankruptcy petition, in which assets included insurance policies having a face value of $100,000 and surrender value of $13,404.21. All named Minnie Ariani as beneficiary, and were never surrendered to the estate's trustee.
FURNISHED BOND
Romolo Ariani attempted unsuccessfully in 1938 to obtain the cash surrender value for his mother.
This attempt furnished the FBI with one of their leads to the family's whereabouts.
Ariani owned a ranch in California's San Joaquin Valley, between Stockton and Fresno, and a summer home at Mountain View, Calif. Carlo formerly was the owner of a liquor store here. Romolo was admitted to the California bar in 1937 and was a practicing attorney.
Pieper said the FBI had discovered possible violations of the selective service act by the sons, who always had used their own names.
He said they reported in questionnaires that they were supporting their mother, when in fact she was living with and was supported by her husband.