U.S. Financial $10,000 Bond - Issued to Merrill Lynch

Home > Stock Certs >

U.S. Financial $10,000 Bond - Issued to Merrill Lynch - Huge Real Estate Fraud

Alternative Views:

Stock Cert Sale: Spend $200 save 10%, $350 save 20%, $500 save 25% - Mix or Match

Our Price: $65.00

Sale Price: $48.00

Vintage Stock Certificate

Product Code: SC2037

Would you like to frame this?

Framing Options*:

Learn More about Your Framing Options

Would you like to add engraving to your frame?

Options:

Qty:

Description

Extended Information

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.