{"id":1708,"date":"2018-05-15T14:53:08","date_gmt":"2018-05-15T11:53:08","guid":{"rendered":"https:\/\/rigasseifi.lv\/ee\/?p=1708"},"modified":"2018-11-12T15:14:50","modified_gmt":"2018-11-12T12:14:50","slug":"worthless-treasure-in-ubs-safe-deposit-box","status":"publish","type":"post","link":"https:\/\/rigasseifi.lv\/ee\/2018\/05\/15\/worthless-treasure-in-ubs-safe-deposit-box\/","title":{"rendered":"Worthless Treasure in UBS Safe Deposit Box"},"content":{"rendered":"

\"\"<\/p>\n

A banker from Rome got a pleasant surprise when, tracing his inheritance as the single heir to his deceased grandfather’s legacy, he was led to a safe deposit box at the UBS in Lugano.
\nThere he found what had been waiting for years to be claimed: the legacy turned out to be around 3 billion lira, equivalent to about $1.9 million, in cash, according to a report in the regional newspaper \u00abLa Regione<\/a>\u00bb\u00a0(in Italian)<\/em>.<\/div>\n
<\/div>\n

Worthless Treasure<\/strong><\/p>\n

However, the 48-year-old heir’s initial delight at the discovery turned sour when he presented the lira notes to an Italian bank for converting into euros. The bank explained that its deadline for exchanging lire for euros had expired in 2012, and thus the notes were worthless.<\/p>\n

Not wanting to give up, the heir took his case to court with the help of a lawyer, where he argued that he couldn\u2019t comply with the cut-off conversion deadline since he wasn\u2019t even aware of the money\u2019s existence. The move is reminiscent of India’s sudden move two years ago to outlaw two bank notes, in a bid to\u00a0was taken to crack down on tax evasion.<\/p>\n

Swiss Deadline<\/strong><\/p>\n

Still, the Italian banker can console himself with the remainder of his inheritance. His departed grandfather, an Italian national who owned a construction company and spent his final years living in the Italian-speaking region of Switzerland, also left his grandson two apartments, healthy bank accounts and a share portfolio.<\/p>\n

If only the notes in the safe deposit box been Swiss francs: Switzerland’s bank notes recalled in 2000 can still be converted until the end of April 2020 at their full value with the Swiss National Bank, or SNB.\u00a0The Bank of England is even more generous, and will exchange all notes issued since the central bank\u2019s founding in 1694, without any deadline restrictions.<\/p>\n","protected":false},"excerpt":{"rendered":"

A banker from Rome got a pleasant surprise when, tracing his inheritance as the single heir to his deceased grandfather’s legacy, he was led to a safe deposit box at the UBS in Lugano. There he found what had been waiting for years to be claimed: the legacy turned out to be around 3 billion […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-1708","post","type-post","status-publish","format-standard","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/posts\/1708"}],"collection":[{"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/comments?post=1708"}],"version-history":[{"count":1,"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/posts\/1708\/revisions"}],"predecessor-version":[{"id":1709,"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/posts\/1708\/revisions\/1709"}],"wp:attachment":[{"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/media?parent=1708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/categories?post=1708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rigasseifi.lv\/ee\/wp-json\/wp\/v2\/tags?post=1708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}