Hi. I was recently contacted by someone with a bunch of his grandfather's German gold bearer bonds with all coupons. Apparently they were issued in the US by JP Morgan in the 20's or 30's and then Hitler defaulted on them.
He says there is a market here in the US for about $1200 or so apiece. But that they are worth anywhere from 6 to 9 million bux in Europe making his bonds worth about $200 million based upon the price of gold and inflation. He had wind of a PPP private offering through Credit Suisse where they can be used as collateral for trading in Europe guaranteeing a million dollar return every year. I told him no way. He even had a letter of authenticity for the bonds. He mentioned some Florida lawsuit that states they can collect on their value and I told him to get that lawyer but he said he couldn't afford him.
However he needed someone to hold them in escrow and send a letter to these bozos with Credit Suisse stating they are held in escrow. Offered me 3% ($6 million) to do this for him. I declined his generous offer. I can smell a nigerian/european scheme when I see one. Told him to take his bonds straight to the Credit Suisse Bank in New York and talk directly or else go to Europe cause if they really were worth millions then people would be at his door step instead of the other way around. He didn't have the money to travel anywhere or to use a bank escrow account. I told him to sell them for what he can get and be better off buying lottery tickets.
Did some google research and saw the scam he told me about and you could buy those bonds on ebay for $250 and up.
Nothing I or anyone here can say anything to change his deluded mind on the subject as I've already gone over all the red flags with him but I'm just wondering if anyone here has any particular knowledge on the subject? Thanks. It all smells like something our billionaire buddy would manage and arbitrage.
He says there is a market here in the US for about $1200 or so apiece. But that they are worth anywhere from 6 to 9 million bux in Europe making his bonds worth about $200 million based upon the price of gold and inflation. He had wind of a PPP private offering through Credit Suisse where they can be used as collateral for trading in Europe guaranteeing a million dollar return every year. I told him no way. He even had a letter of authenticity for the bonds. He mentioned some Florida lawsuit that states they can collect on their value and I told him to get that lawyer but he said he couldn't afford him.
However he needed someone to hold them in escrow and send a letter to these bozos with Credit Suisse stating they are held in escrow. Offered me 3% ($6 million) to do this for him. I declined his generous offer. I can smell a nigerian/european scheme when I see one. Told him to take his bonds straight to the Credit Suisse Bank in New York and talk directly or else go to Europe cause if they really were worth millions then people would be at his door step instead of the other way around. He didn't have the money to travel anywhere or to use a bank escrow account. I told him to sell them for what he can get and be better off buying lottery tickets.
Did some google research and saw the scam he told me about and you could buy those bonds on ebay for $250 and up.
Nothing I or anyone here can say anything to change his deluded mind on the subject as I've already gone over all the red flags with him but I'm just wondering if anyone here has any particular knowledge on the subject? Thanks. It all smells like something our billionaire buddy would manage and arbitrage.
