Comment on Investors bought about $1.1 billion in private bonds backed by Italy's most powerful mafia over the last 3 years

Investors bought about $1.1 billion in private bonds backed by Italy's most powerful mafia over the last 3 years

Institutional investors bought private bonds backed by Italy's most powerful organized crime group in the past three years, according to a Financial Times report. Pension funds, hedge funds, family offices, and a private Italian bank bought about 1 billion euros ($1.1 billion) of the debt. In one deal, investors bought bonds linked to assets sold by organized criminals who were charged with stealing millions from the European Union. Visit Business Insider's homepage for more stories. Institutional investors bought €1 billion ($1.1 billion) in bonds backed by earnings from organized crime committed by Italy's most powerful mafia, the Financial Times reported on Wednesday. The debt was backed by front companies — aiming to conceal illegal activities — that were linked to, and later charged with, working with Southern Italy's infamous 'Ndrangheta mafia group.See the rest of the story at Business InsiderNOW WATCH: A cleaning expert reveals her 3-step method for cleaning your entire home quicklySee Also:Warren Buffett's Berkshire Hathaway struck a $10 billion deal to buy Dominion Energy's natural gas business.

 

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