BBC News, 17
February 2012
Italian
prosecutors say they have broken up an organised crime ring that was hiding
trillions of dollars of fake US bonds.
 |
| The fake bonds were found in three safety deposit boxes in Zurich |
Worth $6
trillion dollars, the bonds were found in false compartments of three safety
deposit boxes in Zurich.
Italian
authorities have arrested eight people and are investigating them for fraud and
other crimes.
Prosecutors
are not sure what the gang was planning but think they intended to sell the
counterfeit bonds.
Investigators,
based in Potenza southern Italy, say the fraud posed "severe threats"
to international financial security.
In
cooperation with Swiss police they tracked down three metal boxes at a
warehouse in Zurich. The crates contained thousands of fake US bonds that gave
the appearance they had been issued by the US Federal Reserve in 1934.
US
officials confirmed that the bonds were counterfeit.
Fake US
securities have been seized in Italy before and there were at least three cases
in 2009.
But this
case is on a different scale to previous investigations as the fake bonds have
a value equivalent to almost half of the entire US debt pile.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.