日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Reporter's Journal

Damaged 'coins' from China used to nickel-and-dime US Mint: authorities

By <A title="" href="http://usa.chinadaily.com.cn/opinion/williamhennelly.html" target=_blank>William Hennelly</A> | China Daily USA | Updated: 2015-04-02 06:35
Share
Share - WeChat

Most people probably could find a buck or two in change if they look under their car seats, but $900?

That's the average amount in coins — later redeemed for cash from the US Mint — that US prosecutors say would have had to be found in each scrapped vehicle exported to China that purportedly contained loose change.

The "change" found in those cars was then sent back to China-connected companies in the US that redeemed the coins for payment.

In a March 20 District Court filing by the US Attorney's Office in New Jersey, the government is seeking the forfeiture of $5.46 million in proceeds seized from three US-based companies involved in sending damaged coins to the Mint for payment.

The government argues that they were counterfeit and altered so that they would be eligible for payment under the Mint's 104-year-old mutilated coin program, which pays a little under $20 a pound for such coins. Mutilated coins are those that are "chipped, fused, discolored, burned, or distorted and not machine-countable", according to the Mint. The coins collected are melted down, with the yield being used as metal for new coins.

The coins from China were almost entirely dimes, quarters and half dollars. Any coins minted in the US in those denominations are made of only copper and nickel. The China coins contained aluminum and silicon, argued the US attorney, and lower amounts of copper and nickel than the US Mint uses.

Of the $5.46 million seized was: $2.84 million previously due and payable by the Mint to America Naha, Inc; $2.34 million to Wealthy Max Ltd; and $219,492 to XRacer Sports Co Ltd.

According to the complaint, at the center of the alleged scheme is a company in New Brunswick, New Jersey. Xu Qianru is the registered owner of Guang Han Recycling Company Ltd, which is based in Guangdong, China.

Guang Han Recycling exported mutilated coins from China to the US. Xu also owns Guang Han Trading LLC in New Brunswick. Guang Han Trading imports mutilated coins from China into the US. Xu also has imported coins into the US through a company called Dragon Form USA.

US Homeland Security Investigations (HSI) learned that Xu's associates supplied Wealthy Max with counterfeit mutilated coins, which it sent to the Mint for redemption, the US attorney's office said. America Naha handles Dragon Form's importation of coins. Xu's people supplied XRacer Sports with counterfeit mutilated coins, which it also submitted, the complaint said.

The US is also seeking the seizure of land in Dallas on which one of the recycling companies operated, along with a Porsche Cayenne valued at $81, 000. No criminal charges have been filed in the case.

A 2009 analysis by the US Customs Bureau and the US Treasury's Office of the Inspector General compared the number of cars exported to China against the number of damaged coins imported from China, the filing said.

"There would have to be approximately $900 in coins in every vehicle ever exported to China as scrap metal in order to account for the total amount of waste coins imported from China for redemption," Assistant U.S. Attorney Lakshmi Srinivasan Herman wrote in the complaint.

"Interestingly, United States Mint personnel also believe that more half dollars have been redeemed by China-sourced vendors in the last 10 years than the United States Mint has ever manufactured in its history," Herman wrote.

The complaint says that in order to keep up with the increase in volume, the Mint began scheduling quarterly melts at the foundries. The melts previously had been scheduled much less frequently.

In October 2009, US Customs and Border Protection noted a rise in waste-coin imports at the Port of Los Angeles. A number of importers claimed that the coins were taken from cars exported from the US to China as scrap metal.

HSI agents in field interviews at an auto salvage yard, a scrap metal recycler and a metal recycling and export facility found that anything of value (coins, gasoline, oils/fluids, etc.) is typically removed from vehicles at the start of the salvage process.

By the time a vehicle is crushed for export, there is nothing left except ferrous metals and other material of little value, such as plastic and glass. The coins recovered usually yield only a few hundred dollars a month.

Dimes, quarters and half dollars are more likely than pennies and nickels to be counterfeited and presented for redemption because their face value is much higher than the total manufacturing cost. None of the shipments from the Chinese importers have ever contained pennies, and only small parts of a few shipments have contained nickels.

The die striking machinery the Mint uses to manufacture its coins is commercially available. Old die striking machines used by the Mint were sold as scrap metal to a Chinese company, the filing said.

The Mint declined to comment on the program and referred calls about the coin case to the US attorney's office.

Contact the writer at williamhennelly@chinadailyusa.com

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 成年人免费小视频 | 四虎影视在线播放 | 国产精品久久在线观看 | 91精品国产乱码久久久张津瑜 | 成人毛片在线播放 | 欧洲免费av | 伊人网中文字幕 | 成年人久久 | 日韩在线你懂的 | 亚洲成年人网站在线观看 | 日本精品久久久 | 免费黄色在线网站 | 日批视频在线看 | 18岁成年人网站 | 黄页网站免费在线观看 | 亚洲综合色网 | 日本视频精品 | jizz性欧美2| 婷婷影视 | 国产综合视频 | 日韩中出 | 精品国产99久久久久久宅男i | 国产精品三级在线观看 | 狂野欧美性猛交xxxx巴西 | 天天综合天天做 | 97se亚洲| 六月激情 | 欧美第二区 | 伊人超碰 | 午夜福利毛片 | 亚洲无人区码一码二码三码 | 一区二区三区免费在线观看 | 久久国产综合 | 久久久精品久久久久 | 欧美一级片在线视频 | 亚洲一级特黄 | 一区二区三区视频网站 | 欧美a∨亚洲欧美亚洲 | 久久成人激情 | 亚洲五码在线 | 欧美精品大片 |