Jump to content
Search In
  • More options...
Find results that contain...
Find results in...
Æ°

Attempt to smuggle $134 BILLION worth of U.S. bonds

Recommended Posts

This one is a little old, but still very fascinating. I've looked all over and can only find a few sources covering this. And I haven't been able to find many updates either.

Japan Probes Report Two Seized With Undeclared Bonds (Update2)

 

By Shunichi Ozasa and Makiko Kitamura

 

 

June 12 (Bloomberg) -- Japan is investigating reports two of its citizens were detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland.

 

 

“Italian authorities are in the midst of the investigation, and haven’t yet confirmed the details, including whether they are Japanese citizens or not,” Takeshi Akamatsu, a spokesman for the Ministry of Foreign Affairs, said by telephone today in Tokyo. “Our consulate in Milan is continuing efforts to confirm the reports.”

An official at the Consulate General of Japan in Milan, who only gave his name as Ikeda, said it still hasn’t been confirmed that the individuals are Japanese. “We are in contact with the Italian Financial Police and the Italian Public Prosecutor’s Office,” Ikeda said by phone today.

 

 

The Asahi newspaper reported today Italian police found bond certificates concealed in the bottom of luggage the two individuals were carrying on a train that stopped in Chiasso, near the Swiss border, on June 3.

The undeclared bonds included 249 certificates worth $500 million each, the Asahi said, citing Italian authorities. The case was reported earlier in Italian newspapers Il Giornale and La Repubblica and by the Ansa news agency.

If the securities are found to be genuine, the individuals could be fined 40 percent of the total value for attempting to take them out of the country without declaring them, the Asahi said.

 

 

The Italian embassy in Tokyo was unable to confirm the Asahi report.

 

 

 

 

 

 

link here:

 

 

http://www.bloomberg.com/apps/news?pid=20601101&sid=ayy1QKcwcGN0

Share this post


Link to post
Share on other sites

Also, the article from Bloomberg was misleading when it stated, "The undeclared bonds included 249 certificates worth $500 million each."

 

Other sources say that there were 249 bonds of the ‘Federal Reserve‘ American in the nominal value of $500 million each, and 10 Kennedy bonds of the nominal value of $1 billion each, in addition to what is described as very original banking documentation.

 

Either way; if they're fake, it's the biggest counterfeit case in history. And if they're real, Italy gets to keep 40%, and who the hell has that kind of money and why are they moving it illegally?

 

The wikipedia page says that as of July 14, 2009 there have been no official or unofficial updates from the U.S., Italian, or Japanese officials. But there is a lot of speculation if you do various google searches.

Share this post


Link to post
Share on other sites

The bonds were fake and the men originated from the DPRK.

 

They were using a a fairly old scam where they entice investors to lend cash secured against these bonds, The money is given and these guys fuck off.

 

Have a look at how much their bonds were worth and have a look at the current dollar value of all the issued US bonds that are on the market right now.

 

The story died quickly because once the media actually did its homework it realised that there actually was no story.

Share this post


Link to post
Share on other sites
The bonds were fake and the men originated from the DPRK.

 

They were using a a fairly old scam where they entice investors to lend cash secured against these bonds, The money is given and these guys fuck off.

 

Have a look at how much their bonds were worth and have a look at the current dollar value of all the issued US bonds that are on the market right now.

 

The story died quickly because once the media actually did its homework it realised that there actually was no story.

 

 

Do you have any links or sources with official statements from Italy, the US, Japan, or Switzerland?

Share this post


Link to post
Share on other sites

No, sorry.

 

Also, I shouldn't say that they originated from the DPRK, it's more accurate to instead say that they were linked rather than connected.

Share this post


Link to post
Share on other sites

For some reason I can see some North Korean dudes slinging fake $500 million bonds out of the back of a white truck in the parking lot of a mini-mall in Atlanta along with $50 speakers, fake Nikes and Louis Vuitton bags.

Share this post


Link to post
Share on other sites
This one is a little old, but still very fascinating. I've looked all over and can only find a few sources covering this. And I haven't been able to find many updates either.

Japan Probes Report Two Seized With Undeclared Bonds (Update2)

 

By Shunichi Ozasa and Makiko Kitamura

 

 

June 12 (Bloomberg) -- Japan is investigating reports two of its citizens were detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland.

 

 

“Italian authorities are in the midst of the investigation, and haven’t yet confirmed the details, including whether they are Japanese citizens or not,” Takeshi Akamatsu, a spokesman for the Ministry of Foreign Affairs, said by telephone today in Tokyo. “Our consulate in Milan is continuing efforts to confirm the reports.”

An official at the Consulate General of Japan in Milan, who only gave his name as Ikeda, said it still hasn’t been confirmed that the individuals are Japanese. “We are in contact with the Italian Financial Police and the Italian Public Prosecutor’s Office,” Ikeda said by phone today.

 

 

The Asahi newspaper reported today Italian police found bond certificates concealed in the bottom of luggage the two individuals were carrying on a train that stopped in Chiasso, near the Swiss border, on June 3.

The undeclared bonds included 249 certificates worth $500 million each, the Asahi said, citing Italian authorities. The case was reported earlier in Italian newspapers Il Giornale and La Repubblica and by the Ansa news agency.

If the securities are found to be genuine, the individuals could be fined 40 percent of the total value for attempting to take them out of the country without declaring them, the Asahi said.

 

 

The Italian embassy in Tokyo was unable to confirm the Asahi report.

 

 

 

 

 

 

link here:

 

 

http://www.bloomberg.com/apps/news?pid=20601101&sid=ayy1QKcwcGN0

Thank you for the post.

Hi guys, Im a newbie. Nice to join this forum.

 

 

_________________

Watch The Bounty Hunter Online Free

Share this post


Link to post
Share on other sites
Thank you for the post.

Hi guys, Im a newbie. Nice to join this forum.

 

Search

 

Enter a username, email address, or IP address. Also try the Advanced Search.

search.png

Found 5 entries for "kelly7898@gmail.com"

Export this search result list as: XML - CSV

calendar.pngDateserver.pngIP addressuser.pngUsernameemail.pngEmail Addressworld.png 3/18/10 2:04 AM113.23.32.133kelly7898kelly7898@gmail.comvn.png 3/16/10 7:32 AM113.23.27.210kelly7898kelly7898@gmail.comvn.png 3/14/10 10:51 AM113.22.17.203kelly7898kelly7898@gmail.comvn.png 3/13/10 11:02 AM113.22.96.188kelly7898kelly7898@gmail.comvn.png 3/13/10 11:00 AM113.22.96.188kelly7898kelly7898@gmail.com

 

 

 

 

 

http://www.stopforumspam.com/search?q=kelly7898%40gmail.com

Share this post


Link to post
Share on other sites

Bump.

 

Because I'm still unable to find a fucking trustworthy update on this! Hopefully someone here knows more than I do, because this is one of the most interesting stories I've read in years, and it just disappeared from the media a few days after it supposedly happened.

 

There's only a few recent articles (past 2-3 months) from questionable sources that state Alan Greenspan is somehow involved in all this... ha

Share this post


Link to post
Share on other sites

Fake. Just some low level underworld shady scam business.

 

Can't seriously think they would rock up at Basel with billions of dollars worth of PAPER bonds to try and sell.

And no one would notice. A trade is a trade - it will register anyways.

 

Where the fuck do you even get them in paper anymore?

 

Then some Blogger somewhere turned it into an international conspiracy about Japan dumping 'worthless' US bonds.

Share this post


Link to post
Share on other sites
Fake. Just some low level underworld shady scam business.

 

Can't seriously think they would rock up at Basel with billions of dollars worth of PAPER bonds to try and sell.

And no one would notice. A trade is a trade - it will register anyways.

 

Where the fuck do you even get them in paper anymore?

 

Then some Blogger somewhere turned it into an international conspiracy about Japan dumping 'worthless' US bonds.

 

Do you have a link or anything?

 

Like an official statement from Italy, the US, Japan, or Switzerland?

Share this post


Link to post
Share on other sites

1. The Federal Reserve doesn't issue bonds, but rather notes. Bonds are issued by the Treasury, and have been traded electronically for many years now. They haven't been issued in $500mil and $1bil denominations for decades.

 

2. $134bil would represent something like 15-20% of Japan's holding. Holdings and trades are tracked very closely, someone would definitely notice if it went astray. If Japan wanted to reduce it's holding they would simply sell it on the market.

It's not rational to think a couple of guys are smuggling it in a briefcase through Italy.

 

3. Bond scams have been around for a while. See christo's first post. And also here.

 

4. Fill in the blanks.

 

My thoughts: the Italian authorities blew this out of proportion. A couple of sources reported on it immediately thinking it was big, then no one ever followed up because everyone realised it wasn't important (ref point 3.)

Share this post


Link to post
Share on other sites
1. The Federal Reserve doesn't issue bonds, but rather notes. Bonds are issued by the Treasury, and have been traded electronically for many years now. They haven't been issued in $500mil and $1bil denominations for decades.

 

2. $134bil would represent something like 15-20% of Japan's holding. Holdings and trades are tracked very closely, someone would definitely notice if it went astray. If Japan wanted to reduce it's holding they would simply sell it on the market.

It's not rational to think a couple of guys are smuggling it in a briefcase through Italy.

 

3. Bond scams have been around for a while. See christo's first post. And also here.

 

4. Fill in the blanks.

 

My thoughts: the Italian authorities blew this out of proportion. A couple of sources reported on it immediately thinking it was big, then no one ever followed up because everyone realised it wasn't important (ref point 3.)

 

Firstly, I don't doubt the possibility they're counterfeit, however I would like to see something concrete in the media. So far, I haven't been able to find an official statement, or any trustworthy coverage on this after it happened.

 

Of course I know that bond scams have been around for a while, but I just find it unusual that no one has ever followed up on this story in the media, considering it's probably the largest bond scam in history. Surely it's newsworthy.

 

The whole thing is so bizarre to me.

Share this post


Link to post
Share on other sites

This is an interesting story, because if they were real and being smuggled the smartest thing to do is to debunk the whole thing by saying they where counterfits, to make people not care.

Share this post


Link to post
Share on other sites

Here are the blanks....

 

There is no such thing as a reserve bond, and no such thing as a 500mil or 1bil bond. Hence no actual counterfeiting took place.

To dump bonds, Japan would sell them on the market. So no mass economic conspiracy to destroy the US.

Which leads to the conclusion these chaps had worthless, but somewhat official looking documents. They were either hoping to scam people for loans or investment. Intent of fraud is a waste of time to follow up for prosecution.....OR they were the victims of a scam.

 

The media doesn't report on every Nigerian email scam....

Share this post


Link to post
Share on other sites

Register for a 12ozProphet forum account or sign in to comment

You need to be a forum member in order to comment. Forum accounts are separate from shop accounts.

Create an account

Register to become a 12ozProphet forum member.

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×