He was president of the football club AS Roma from 1991 and 1993, and a senator of Italy for Silvio Berlusconi's The People of Freedom party in 2008–2012.

Later in his life became nearer to Giulio Andreotti's right-wing current within Democrazia Cristiana (then Italy's major centre party).

[citation needed] Ciarrapico was also the owner of the large mineral water plants at Fiuggi,[3] as well as of a series of private hospitals in Rome, of the aerotaxi company Air Capitol and of the Roman restaurant Casina Valadier.

His holding Italfin '80, under which his properties were collected, went bankrupt in the early 1990s: after being prosecuted for bankruptcy in 1993, Ciarrapico was forced to abandon the presidency of Rome's football club AS Roma, which he had acquired in April 1991.

[citation needed] In 2010, when he was a senator for Silvio Berlusconi's party, part of his properties were confiscated by the Guardia di Finanza due to Ciarrapico's illegal acquisition of state contributions for a total of 20 million euros between 2002 and 2007.