Via BBC News

Italian prosecutors say they have broken up an organized crime ring that was hiding trillions of dollars of fake US bonds.

Worth $6 trillion, the bonds were found in three metal boxes in a warehouse in the Swiss city of Zurich.

Italian authorities have arrested eight people and are investigating them for fraud and other crimes.

Prosecutors are not sure what the gang was planning, but think they intended to sell the counterfeit bonds.

Investigators, based in Potenza in southern Italy, say the fraud posed “severe threats” to international financial security.

In cooperation with Swiss police, they tracked down three metal boxes to a warehouse in Zurich. The crates contained thousands of fake US bonds that gave the appearance they had been issued by the US Federal Reserve in 1934.

US officials confirmed that the bonds were counterfeit.

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Article courtesy bbc.co.uk

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