$4,700 To Declare? Bah! How About $134 Billion?! : The Two-Way Billions in fake T-bills.
NPR logo $4,700 To Declare? Bah! How About $134 Billion?!

$4,700 To Declare? Bah! How About $134 Billion?!

Oh yeah. That story we passed along yesterday about a guy who didn't take kindly to being questioned by airport security agents about the $4,700 he was carrying was an eye-opener.

But check out this report in The Financial Times: "Italian customs officers and ministry of finance police discovered a staggering $134 billion in U.S. Treasury bills" — or, more precisely, counterfeit bills — in a suitcase belonging to to men traveling by train from Italy to Switzerland.

According to the FT, authorities say there were 249 of the bills had face values of $500 million each. Ten bonds had face values of $1 billion each.

If the story wasn't already amazing enough, there's this: It seems the two men have since been released from custody. No one seems to know why.