To: Lucretius who wrote (261069 ) 9/19/2003 1:53:03 PM From: Pogeu Mahone Respond to of 436258 September 18, 2003 Mancunian convicted of $2.5 trillion bond fraud BY AGENCIES A forensic scientist from Manchester has been convicted of one of the biggest attempted frauds in history. Graham Halksworth, 69, attempted to swindle the US Government out of $2.5 trillion (£1.5 trillion) in fake bonds - a sum greater than the worth of all the gold in the world ever mined. Michael Segan, the solicitor who first discovered the fraud, said that the total nominal worth of the bonds "would have bought the planet twice over". Halksworth and his accomplice Michael Slamaj, 56, a former Yugoslav secret agent, now face a "substantial custodial sentence", a judge at Snaresbook Criminal Court has said. The court was told that Halksworth used his expertise to authenticate fake US Federal Reserve bonds. Bonds are issued by Governments as a means of borrowing money from institutions and the general public. They are usually accompanied by an authentication certificate which can then be used for collateral or to claim credit from banks around the world. Police raided a vault that he kept in an HSBC bank branch in London and discovered that he was keeping $2.5 trillion in bonds. He and Slamaj were finally caught when trying to redeem $25 million worth of bonds at a Toronto bank two years ago. The suspicions of a detective were aroused when he noticed that the word dollar rather than dollars was printed on the bonds. It later emerged that the bonds had post codes which were not available on the dates when they were purportedly issued in the 1930s and that they had been printed on ink jet printers which were not used extensively until the 1980s. Slamaj maintained that the bonds were authentic and had been issued to Chiang Kai Shek, the Chinese nationalist leader in the 1940s. The plane carrying the bonds crashed in 1948 until they were rediscovered by him in the 1990s, Slamaj claimed. Slamaj was caught trying to flee Britain in 2002 after police received a tip-off from Micheal Segan, a solicitor, who had been offered the bonds at a reduced price. Mr Segan said: "As soon as they mentioned the figures involved I realised that this would have brought the planet twice over and I didn't believe they were genuine. I knew they were conmen." Both men were found guilty of conspiracy to defraud. Slamaj was also convicted of possessing fake bonds, but Halksworth was cleared of a charge of knowingly inducing somebody to accept the bonds between January 2000 and August 2002. ===== "For every complex problem, there is a simple, easy to understand, incorrect answer." (Physiologist Albert Szent-Gyorgyi)