A Cleveland woman has been sentenced to 32 months in prison after admitting guilt to several charges involving U.S. Treasury bonds. Toni Laverne Smith, aged 71, was convicted of conspiring to transport and sell stolen treasury bonds across state lines, forging the bonds, and using a false social security number.
Court documents reveal that Smith possessed U.S. Treasury bonds suspected to have been stolen from an elderly woman's residence in 2011. The investigation found that between September 2011 and April 2012, Smith and an accomplice transported these stolen bonds across state lines. They used fake identification with the victim's name to sell more than 350 forged Series E and EE U.S. Treasury bonds, which had a face value of $268,500. This illicit activity resulted in approximately $299,364 in proceeds when interest on mature bonds was included.
Furthermore, the conspirators utilized the victim's social security number to open bank accounts at multiple financial institutions located as far away as Michigan and Illinois. Smith managed to avoid capture for over ten years before being apprehended by federal authorities on June 3, 2024, due to unrelated charges.
The United States Secret Service conducted the investigation into this case, while Assistant U.S. Attorney Vanessa Healy handled prosecution duties for the Northern District of Ohio.
For those needing to report stolen treasury bonds, assistance is available through https://www.treasurydirect.gov/savings-bonds/manage-bonds/lost-stolen-destroyed-ee-or-i-bonds/ or by calling 844-284-2676.