Duo charged for alleged US$148 billion fake bond fraud
2001-3-28
The ICAC today (Wednesday) charged two persons for conspiracy to utter fake US valuable securities with a total face value of US$148 billion to obtain credit facilities from local banks, and brought them to the Eastern Court.
Chase Joseph Wang TISONI, 58, an American businessman, and Stefan LANGENSTUCK, 33, a German attorney, faced one count of conspiracy to use false instruments.
The charge alleged that between January 1, 2000 and March 26, 2001, the duo had conspired with Edilberto Marcos MARCOS, Felix Guy Robert CHAZEL, Samuel BRISKIN and other persons to use false United States of America Federal Reserve Notes, with intent to i nduce somebody to accept them as genuine.
No pleas were taken. Magistrate Mr Ian Candy adjourned the case until April 11 this year for mention.
TISONI was remanded in the custody of the Correctional Services Department, while LANGENSTUCK was remanded in the ICAC custody.
The duo was among five persons arrested in an ICAC operation, which commenced last week.
They were suspected to be members of an international syndicate involved in the credit fraud.
Apart from the two defendants, the three other arrestees were a French national manager, a Canadian businessman, and a local architect.
During the operation, a large quantity of forged valuable securities were seized at various premises, including the presidential suite of a hotel.
The seized fake valuable securities, with a total face value of US$15 trillion, included 200 US$100 million bonds, 200 US$500 million bonds, 10 US$500 million gold bullion certificates, three US$500 million 20-year gold certificates, three US$5,450 millio n Bank of England certificates, 232 US$100 million Federal Reserve Notes, and 250 US$500 million Federal Reserve Notes.
The investigation arose from information received, alleging that an international syndicate had offered advantages to some local bank employees for securing loans and laundering counterfeit currency.
Assistance has been obtained from the United States Secret Service in respect of the seized US bonds.
The remaining three arrestees have been released on ICAC bail.
Enquiries are continuing.
Chase Joseph Wang TISONI, 58, an American businessman, and Stefan LANGENSTUCK, 33, a German attorney, faced one count of conspiracy to use false instruments.
The charge alleged that between January 1, 2000 and March 26, 2001, the duo had conspired with Edilberto Marcos MARCOS, Felix Guy Robert CHAZEL, Samuel BRISKIN and other persons to use false United States of America Federal Reserve Notes, with intent to i nduce somebody to accept them as genuine.
No pleas were taken. Magistrate Mr Ian Candy adjourned the case until April 11 this year for mention.
TISONI was remanded in the custody of the Correctional Services Department, while LANGENSTUCK was remanded in the ICAC custody.
The duo was among five persons arrested in an ICAC operation, which commenced last week.
They were suspected to be members of an international syndicate involved in the credit fraud.
Apart from the two defendants, the three other arrestees were a French national manager, a Canadian businessman, and a local architect.
During the operation, a large quantity of forged valuable securities were seized at various premises, including the presidential suite of a hotel.
The seized fake valuable securities, with a total face value of US$15 trillion, included 200 US$100 million bonds, 200 US$500 million bonds, 10 US$500 million gold bullion certificates, three US$500 million 20-year gold certificates, three US$5,450 millio n Bank of England certificates, 232 US$100 million Federal Reserve Notes, and 250 US$500 million Federal Reserve Notes.
The investigation arose from information received, alleging that an international syndicate had offered advantages to some local bank employees for securing loans and laundering counterfeit currency.
Assistance has been obtained from the United States Secret Service in respect of the seized US bonds.
The remaining three arrestees have been released on ICAC bail.
Enquiries are continuing.