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I-T finds Tirupur man
with US bonds worth $5bn

Times of India, by Binoy Valsan

Original Article

Posted By:crabam, 1/2/2013 8:26:27 PM

COIMBATORE - The investigation wing of the Income Tax (I-T) department in Coimbatore has seized US treasury bonds worth about Rs 27,500 crore from a 45-year- old man claiming to be a financial broker-cum-business consultant in Dharapuram in Tirupur district. I-T sleuths here said the bonds were seized in a raid on December 31 at the residence of T M Ramalingam on Dharapuram-Palani Road near Upputhurai, about 80 kms from Coimbatore, in Tirupur district. The bonds are worth $5 billion.
Staff split headline.

Comments:
Foreigners are buying up land all over the USA. Why not bonds?

      


Post Reply  

Reply 1 - Posted by: Coy860, 1/2/2013 8:35:11 PM     (No. 9095595)

US Bonds are backed by the "full faith and credit of the US government" ha ha ha
They´ll be worthless in a few years.

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Reply 2 - Posted by: realrep, 1/2/2013 8:40:09 PM     (No. 9095599)

Is this the guy who coached PIAPS with the cattle futures? How to make 100G with a 1G investment in a short period of time.
Did this guy get these bonds from anyone in Nigeria?

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Blue-Z-Anna, 1/2/2013 8:58:11 PM     (No. 9095618)

"Mo tea, Suh ?"

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Reply 4 - Posted by: SteelTurman, 1/2/2013 9:00:38 PM     (No. 9095621)

Something is wrong or missing from this picture.

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Reply 5 - Posted by: BreakRight, 1/2/2013 9:52:11 PM     (No. 9095664)

Probably forgeries, I remember a bust in Italy a few years back of a ring that counterfeited US Bonds.... http://www.reuters.com/article/2012/02/17/us-usa-bonds-forgery-idUSTRE81G11620120217

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Reply 6 - Posted by: Grant Hodges, 1/2/2013 9:52:58 PM     (No. 9095665)

Yeah, no. 4. I don´t think this story told a quarter of what is going on with this guy, and his 5 billion in bonds. I bet when we find out we aren´t going to like it.

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Reply 7 - Posted by: kendet1946, 1/2/2013 10:37:24 PM     (No. 9095709)

my geography stinks. I didn´t recognize any of the places mentioned.

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Reply 8 - Posted by: bob913, 1/2/2013 10:52:57 PM     (No. 9095736)

Congrats to the investigators who can pronounce any of those names! crore, Tirupur, Coimbatore, Dharapuram, Ramalingam, Palani, Upputhurai, Binoy Valsan

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Reply 9 - Posted by: LanieLou, 1/3/2013 12:07:07 AM     (No. 9095803)

Sounds like someone is doing some laundering.

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Reply 10 - Posted by: belwhatter, 1/3/2013 4:05:01 AM     (No. 9095892)

Here is a situation screaming for further in depth investigation - remember the BCCI scandals of the 80s and 90s?

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Reply 11 - Posted by: Trigger2, 1/3/2013 5:31:46 AM     (No. 9095932)

Is Gaithner the tax cheat behind this? You know, money laundering for the WH.

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COIMBATORE - The investigation wing of the Income Tax (I-T) department in Coimbatore has seized US treasury bonds worth about Rs 27,500 crore from a 45-year- old man claiming to be a financial broker-cum-business consultant in Dharapuram in Tirupur district. I-T sleuths here said the bonds were seized in a raid on December 31 at the residence of T M Ramalingam on Dharapuram-Palani Road near Upputhurai, about 80 kms from Coimbatore, in Tirupur district. The bonds are worth $5 billion.
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