World -   

1

Italian authorities confiscate $6 trillion in fake bonds

This undated photo provided by Carabinieri Friday, Feb. 17, 2012 shows a counterfeit U.S. bond confiscated in Switzerland. (Carabinieri)
This undated photo provided by Carabinieri Friday, Feb. 17, 2012 shows a counterfeit U.S. bond confiscated in Switzerland. (Carabinieri)

View Larger Image

A A |  Email ThisEmail  | Print Facebook   

Date: Friday Feb. 17, 2012 2:52 PM ET

MILAN, Italy — Swiss authorities have confiscated $6 trillion in counterfeit U.S. bonds at the request of Italian prosecutors, authorities in Italy said Friday.

Eight people were arrested in Italy and placed under investigation for fraud and other crimes.

The bonds, carrying the false date of issue of 1934, had been transported in 2007 from Hong Kong to Zurich, where they were transferred to a Swiss trust, according to prosecutors in the southern Italian city of Potenza.

Authorities said that U.S. officials had confirmed the bonds were counterfeit.

Prosecutors said the fraud had not been completed, but it appeared that the suspects intended to try to sell the fake bonds to a developing nation, directly or through an intermediary bank.

Prosecutors refused to say anything more. But the Italian news agency ANSA, citing unidentified investigative sources, said phone taps indicated that there had been some interest from the suspects in acquiring plutonium from unidentified Nigerians. The report from Potenza quoted investigators as saying no such deal had ever materialized.

Recently, Carabinieri police, carrying out a routine search at a highway rest in Italy, stop found a briefcase containing $20 billion in fake bonds.

Share with your social Network:

Facebook DIGG Newsvine Delicious Twitter StumbeUpon Reddit Yahoo! Buzz

 

Advertisement

Contest

Today's World Stories

This combo made with undated photos made available by the Miami-Dade Police Dept. shows Rudy Eugene, 31, left, who police shot and killed as he ate the face of Ronald Poppo, 65, right, during a horrific attack in the shadow of the Miami Herald's headquarters

Face-chewing victim has months of treatment ahead

More

Former Liberian President Charles Taylor waits for the start of his sentencing judgement in the courtroom of the Special Court for Sierra Leone in Leidschendam, near The Hague, Netherlands, Wednesday May 30, 2012.  (AP / Toussaint Kluiters)

Charles Taylor gets 50 years for 'brutal' crimes

More   5 Comments 5    2 Video(s) 2

Most Talked about Stories

While Branson's comments (and activities) are arrogant in a million different ways, Clark's response was admirable. She kept her sense of humour with her joke about Branson's brand-name and his bad pick-up line, showing why humour is often the best response to arrogance.

D Austin (Fredericton)

B.C. premier rebuffs Branson's naked kitesurfing invite