Italian Police Seize $6 Trillion Fake US Bonds In Switzerland
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Italian Police Seize $6 Trillion Fake US Bonds In Switzerland

Potenza : Italy | Feb 17, 2012 at 11:36 PM PST
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A trunk containing fake U.S. Treasury bonds is displayed during a news conference in the southern Italian city of Potenza

In an operation coordinated by prosecutors from the southern city of Potenza, and carried out by Italian, Swiss and US authorities, operatives have seized ‘fake’ US Treasury bonds and other securities held in three large trunks from a Swiss trust company estimated to value $6 trillion, Reuters said.

Police said eight Italians were arrested in connection with the fake bonds and subsequently charged with counterfeiting, credit card forgery, and loan-sharking in the Italian regions of Lombardy, Piedmont, Lazio and Basilicata.

The seized trunks were marked with "Federal Reserve System, Treaty of Versailles" stamped on the side, while the bond certificates were marked "Chicago, Illinois, Federal Reserve Bank," prosecutors believed the forgers would use as collateral to secure loans.

Potenza's prosecutor Giovanni Colangelo said the fake bonds were uncovered after a year-long investigation and that an international network ‘in many countries’ were behind the forgeries.

http://www.reuters.com/article/2012/02/17/us-usa-bonds-forgery-idUSTRE81G11620120217

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Chief prosecutor of Potenza Colangelo talks during a news conference in the southern Italian city of Potenza
Chief prosecutor of Potenza Colangelo talks during a news conference in the southern Italian city of Potenza
dunite is based in Manila, National Capital Region, Philippines, and is an Anchor for Allvoices.
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