Don Paolo Bianciotto has been indicted on charges of taking advantage of disabled people, they reported.
The cleric allegedly persuaded a widow, her son, and another woman parishioner, all with psychiatric issues and cognitive deficits, to transfer all their funds into fake charitable investments he had made.
The probe also concerns gifts of two houses, two bars, a car and other property to the priest's housekeeper, who is not under investigation, police were reported as saying.