The Nation - News from March 1, 1988

Brink’s Inc. repaid the Federal Reserve Bank of New York $8 million it apparently “lost” while taking $50 million in cash to Argentina, marking the security company’s biggest loss ever, a spokesman said. The spokesman said the company was classifying the money as “lost” because it has uncovered no evidence it was stolen, but that investigators were considering the possibility of theft. The Brink’s company, which handles $5 billion in valuables a day, was guarding the shipment of $50 million to Buenos Aires earlier this month for one of the bank’s “official customers.” Neither Brink’s nor bank officials would identify the intended recipient, but the term “official customer” is usually used to refer to a government financial institution such as a central bank.