Italian police seize $6 trillion of fake U.S. bonds

Italian police said on Friday they had seized about $6 trillion worth of fake U.S. TreasuryFake U.S. Treasury bonds are displayed during a news conference in the southern Italian city of Potenza February 17, 2012.  REUTERS/Tony Vece bonds and other securities in Switzerland, and arrested eight Italians accused of international fraud and other financial crimes. The year-long investigation started out with Italian and other countries police looking at mafia loan sharking. The investigators expanded their boundaries when the began intercepting phone calls and e-mails. That is when the investigators became suspicious of illegal activity surrounding the U.S. treasury. The fake bonds were found by a Swiss trust company in large trunks. The fake notes were worth over a third of the U.S. dept.

The U.S. Embassy in Rome thanked the Italian authorities and said the forgeries were “an attempt to defraud several Swiss banks”. It said U.S. experts had helped to identify the bonds as fakes.

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