Crime ring busted for hiding $6 trillion in fake bonds
Talk about a Swiss bank account: An Italian organized crime ring (Read: the Mafia) got busted for hiding $6 trillion in fake U.S. Treasury bonds in safe-deposit boxes in Zurich, Switzerland. That's the equivalent of almost half of the U.S. debt. The BBC reports that the fake bonds were dated 1934 at a value of $1 billion apiece.
The Italian authorities arrested eight people in connection with the fraud. This isn't the first time the Italians have tried to cash in with fake U.S. money -- at least three cases cropped up in 2009, but this one was at a record amount.
What would you do with $6 trillion?
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Mike Gallagher
Mike Gallagher is a Georgia-based freelance journalist covering local news, community developments, and regional issues that matter most to residents across the state. Writing for Georgianewsday.com since 2016, Mike has built a reputation for clear, balanced reporting and a strong connection to the communities he serves. His work spans city council decisions, school board updates, small business features, public safety reports, and statewide policy changes. In addition to local coverage, Mike occasionally reports on state politics and national headlines, offering readers context on how broader decisions impact Georgia communities. Known for his steady, fact-driven approach, Mike prioritizes accuracy, fairness, and accessibility in every story. Whether covering a town hall meeting or breaking political developments, he aims to inform readers with clarity and integrity. Outside the newsroom, Mike remains actively engaged in Georgia’s civic landscape, always seeking the next story that shapes the state’s future.
