The Italian Mafia is selling investment bonds
The Ndrangheta mafia of southern Italy has a deal that you cannot refuse.
Investors around the globe were buying bonds backed by a notorious mafia in Italy for four years, The Financial Times reported, citing financial and legal documents.
The report said an estimated €1 billion in private bonds backed by front companies charged with working for the Calabrian ’Ndrangheta mafia group were bought by global investors between 2015 and 2019.
These bonds were bought by pension funds, hedge funds, family offices as well as Banca Generali — one of the biggest private banks in Europe — the FT reported.
Imagine that. Organized crime and high finance working together.
Selling investment bonds based on criminal activity.
That means that at some point someone thought, "hey, you know who would like to get in on the action of strong arm robbery of Syrian refugees? Hedge fund managers."
That means that somewhere in the Netherlands or France some public school pension fund is taking a cut on sex trafficking of underage girls.
That means that somewhere in Europe some church is probably holding part of a credit default swap on the earnings of an underground casino in Naples.
Someone actually sat down and thought about how to structure a business model on paper for dividing up the profits of the heroin traffic on Rome's street corners.
Someone thought this was a good idea!
It boggles the mind.
Then someone turned around and convinced an investment banker to package and sell this product.
It begs the question who is the real prostitute?.
That's almost like an international investment bank that was created to launder drug money actually laundering money for drug cartels.