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U.S. Financial $10,000 Bond - Issued to Merrill Lynch - Huge Real Estate Fraud
U.S. Financial $10,000 Bond - Issued to Merrill Lynch
U.S. Financial $10,000 Bond - Issued to Merrill Lynch
  
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Our Price: $65.00
Sale Price: $48.00
Vintage Stock Certificate



Product Code: SC2037

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This USF U.S. Financial $10,000 Bond was issued to Merrill Lynch, Pierce, Fenner & Smith in 1971. USF was part of one of the largest real estate frauds of the 1970s. USF owned many pieces of real estate. They created subsidiary firms which they "sold" the real estate to who in turn gave notes to USF who counted them as assets. Secret arrangements were made to reimburse the subsidiaries for any losses and if the subsidiary was due for a payment to USF, secret loans were made so they could. The loans made from USF to the subsidiary were also booked as payments to USF creating a circle of money flows that created the illusion that U.S. Financial was making huge profits off of bogus real estate sales. They did this to obtain bank loans and boost the value of their stock.