Fake US bonds worth $6 trillion seized
Italian police on Friday said they seized fake US Treasury bonds with a face value of $ 6 trillion in Switzerland, a media report saidItalian police on Friday said they seized fake US Treasury bonds with a face value of $ 6 trillion in Switzerland, a media report said.
The bonds, more than a third of US national debt, were found inside makeshift compartments in three reinforced metal crates in Zurich.
US officials confirmed that the bonds, dated 1934, were counterfeit. "These fictitious bonds were apparently part of a plan to defraud some Swiss banks," the US embassy in Rome said in a statement.
Italian prosecutors said criminals had attempted to sell the bonds to emerging markets or use them to get loans from banks.
Eight Italian members of a criminal network were arrested for international fraud and other financial crimes, the police said.