Nation IN BRIEF : NATIONWIDE : Swiss Citizen Seized in Loan Fraud Case

A man was arrested and $47 million in redeemed bonds was seized in connection with an international lending fraud scheme, federal authorities said. FBI spokesman Paul Miller said in Miami that U.S. and European financial institutions have lost at least $5.8 million, and “there could be untold losses” due to the scheme. Roman Nikolau Abegg, 57, who identified himself as a Swiss lawyer, was arrested in Boca Raton, Fla., and charged with interstate transportation of stolen securities and bank fraud, the FBI said. The recovered bonds were believed stolen from a New York warehouse in 1980 or 1981. Although they were canceled, only a highly trained eye can see the perforations that show a bond has been redeemed, officials said. Bankers around the world apparently accepted them as collateral.