Another major counterfeiting effort . . . http://www.nj.com/news/index.ssf/2015/03/feds_uncover_scheme_to_defraud_us_mint_out_of_54m.html This ultimately comes out of our pockets, but it should light a serious fire under the butts of the Secret Service and the Treasury Department.
“There would have to be approximately $900 in coins in every vehicle ever exported to China as scrap metal." I need to get in to the scrap business if that's the case! Great share...how'd you find that?
Maybe it'll light a fire under the Chinese .......................................................Nah!
Someone was asleep on the job and didn't have adequate accounting controls in place. They were first tipped off in 2009? Anyone care to look at today's calendar? Government efficiency strikes again... Great story, thank you for posting! Another reason to write my representatives!
I sadly cannot say I am surprised, only disappointed that it has been happening for so long and that people would collude with another country to defraud ours.
Exactly. They should have gone after this guy when they first suspected something..........redeem more half dollars than the mint ever produced? Does that make the ones we own fake? )).......we have the Keystone Cops workin' on this one and the Chinese are laughing their bottoms off at our expense.
I remember seeing a thread on this a few months ago. One of the companies who was utilizing the program actually sued the government claiming it's $3.25 million in seized coin shipments which represent a 2 year period were legit.... http://www.coinworld.com/news/us-coins/2015/11/complaint-filed-over-seized-mutilated-coins.html
Well, I know that "going after the guy" can be pretty darn expensive and use a lot of resources, but I think that if they are found to be guilty, they should have to pay back ALL of the money they've received from anything shipped to them from China.
