Thursday, June 11, 2009

2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy...

Two Japanese nationals were detained by Italian financial police last week after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds, mostly Treasury bonds, an Italian daily said Wednesday. The Japanese consulate general in Milan confirmed that the detention had taken place and said it was trying to confirm with Italian authorities whether the two were indeed Japanese nationals and their identities.

According to the report in il Giornale, two unidentified Japanese in their 50s concealed the bonds, including 249 U.S. Treasury bonds each worth $500 million, in a suitcase with a false bottom that was searched by the Italian authorities June 3 when they were in Chiasso, at the border with Switzerland, about 50 kilometers north of Milan. The daily did not say on what charges they have been detained, but the two may have been detained on suspicion of attempting to take a large amount of securities out of Italy without declaring it because the paper said they had not declared the bonds.

Source

See also:

  1. Worried about money when you reincarnate?
  2. As crisis bites, 10 million Indians empty out Provident Fund savings...
  3. US bankers grant themselves $20bn in bonuses...

2 comments:

  1. nader paul kucinich gravelJune 11, 2009 at 11:12 AM

    Riding the storm out
    Waiting for the fallout...

    ReplyDelete
  2. Probably, but still, what a strange way to "transfer" such a large sum of money out of a country...

    ReplyDelete