Japan Probes Report Two Seized With Undeclared Bonds (Update2)
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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.
â€œItalian authorities are in the midst of the investigation, and havenâ€™t yet confirmed the details, including whether they are Japanese citizens or not,â€ Takeshi Akamatsu, a spokesman for the Ministry of Foreign Affairs, said by telephone today in Tokyo. â€œOur consulate in Milan is continuing efforts to confirm the reports.â€
An official at the Consulate General of Japan in Milan, who only gave his name as Ikeda, said it still hasnâ€™t been confirmed that the individuals are Japanese. â€œWe are in contact with the Italian Financial Police and the Italian Public Prosecutorâ€™s Office,â€ 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.
2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy
Thursday 11th June, 06:18 AM JST
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.
The Wall Street Journal
* MARCH 30, 2009
Treasury Has $134.5 Billion Left in TARP
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WASHINGTON -- The Treasury Department said it has about $134.5 billion left in its financial-rescue fund, giving the Obama administration a cushion as it implements expensive programs aimed at unlocking credit markets and boosting ailing industries.
The figure means that about 81% of the $700 billion in the Troubled Asset Relief Program, or TARP, has been committed. It also means that the Obama administration may not have to go to Congress to request additional funds, at least until well into the year. Many lawmakers who criticized the administration's bank-rescue efforts have vowed to oppose any requests for more money for ...
The Wall Street Journal
At the end off march The Wall Street Journal announces that the Troubled Asset Relief Program has $134.5 billion left .Two months later Two Japanese nationals were detained by Italian financial police after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds. They were probably off to the Bank for International Settlements for some bullion. Is the USA being robbed or are they deliberatly trying to destroy the Dollar?