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Univ. of San Diego School of Law

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Monday, December 27, 2004

No "Dog Day Afternoon": UPDATE--Money "Worthless"

Bank_vaultRobbers walk off with $39 million in one of history's most successful bank heists.  Story here.  [Mark Godsey]

UPDATE: MSNBC.com reports:  "The thieves will have a hard time using the currency because almost all of the notes were specially produced by Northern Ireland banks.  More than $24.5 million worth were new notes bearing Northern Bank’s own design and destined for ATMs, while most of the rest were used notes printed by Northern and three other local banks. Such notes, though denominated as British pounds, aren’t readily accepted in other parts of the United Kingdom or other countries.

Jeffrey Robinson, author of the book 'The Money Launderer,' said the gang took too much cash, and of too conspicuous a design, to spend or even hide.  'They obviously did not count on there being so much money, and Northern Irish notes,' Robinson said. “The money is fundamentally useless. I suspect they know that by now.'"  Story . . .  [Mark Godsey]

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