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
Freelance writer with a passion for travelling
