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While it is true that Russia honored some bonds (mostly those held by French investors) back in 1996 I have found no such scheme now except a scam originating out of Nigeria.
The fraud involves the defaulted sovereign bonds of China, Mexico, and Russia, among other nations. Sometimes American railroad bonds from the 1800’s. But no matter the security used in the deception, to prosecutors and law enforcement officials alike, the scam is known as historical bond fraud.
They even say that the bonds are backed by the IMF, the World Bank, and the NYSE. This is not true.
If I find any true and legitimate honoring of these I will let you know.
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