Police Seize Fake US Treasury Bonds! Half TRILLION! Don't know if anyone has posted this.
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April 1, 2011 • 8:41AM
Police in Rome seized a half-trillion false U.S. T-Bonds, and discovered an international ring that put such phony money through banks that discounted the fake bonds. The phony bonds were counterfeited by the Mafia; the question is whether this is a bottom-top operation, or whether the Mafia has been commissioned from the top. Guess.
Twenty International Bill of Exchange (IBOE) papers, for a value of $565 billion, have been seized in Rome. Prosecutors say that there are 18 more IBOE bills in circulation, probably already in the "legal" financial system. The Italians had been tipped off by U.S. intelligence, as a similar investigation is going on in the U.S.A.
In searching the house of an Italian citizen, Ivo Sobrero, financial police found a document certifying the authenticity of the 38 IBOEs, as well as a list with names of banks and countries where the bills were either deposited or negotiated.
The operation would go as follows: The gang deposited the IBOE in a bank account, and would then find another bank that would discount the bill, sometimes at a wholesale rate of 15-20%. It is clear that both the account bank and the discounting bank must know what is going on. The cut of the IBOE was in the order of hundred millions of dollars, not exactly what you get through honest work.
The list of banks contacted by the gang is impressive: Santander, Barclays, Arab Bank, JP Morgan, World Bank, Romanian central bank etc. It is not clear, however, if those banks entered a negotiation.
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http://tickerforum.org/akcs-www?post=183450&findnew#new
April 1, 2011 • 8:41AM
Police in Rome seized a half-trillion false U.S. T-Bonds, and discovered an international ring that put such phony money through banks that discounted the fake bonds. The phony bonds were counterfeited by the Mafia; the question is whether this is a bottom-top operation, or whether the Mafia has been commissioned from the top. Guess.
Twenty International Bill of Exchange (IBOE) papers, for a value of $565 billion, have been seized in Rome. Prosecutors say that there are 18 more IBOE bills in circulation, probably already in the "legal" financial system. The Italians had been tipped off by U.S. intelligence, as a similar investigation is going on in the U.S.A.
In searching the house of an Italian citizen, Ivo Sobrero, financial police found a document certifying the authenticity of the 38 IBOEs, as well as a list with names of banks and countries where the bills were either deposited or negotiated.
The operation would go as follows: The gang deposited the IBOE in a bank account, and would then find another bank that would discount the bill, sometimes at a wholesale rate of 15-20%. It is clear that both the account bank and the discounting bank must know what is going on. The cut of the IBOE was in the order of hundred millions of dollars, not exactly what you get through honest work.
The list of banks contacted by the gang is impressive: Santander, Barclays, Arab Bank, JP Morgan, World Bank, Romanian central bank etc. It is not clear, however, if those banks entered a negotiation.
goto link above to continue reading
