BEWARE FAKE: U.S. Savings Bonds!

Fake savings bond scheme leads to $50M in losses and issues for legitimate savers

By Staff Reporters

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Authorities claimed that $1 million in counterfeit savings bonds showed up at South Texas banks as part of one crackdown on a scheme to steal money by cashing phony savings bonds, including inflation-indexed or I Bonds, according to the U.S. Attorney’s Office for the Southern District of Texas.

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