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Fake Gold Bars Are Being Sold In New York

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Sam Ro
Business Insider
September 19, 2012

Fox’s Ti-Hua Chang is reporting that fake gold has arrived in Manhattan.

Ibrahim Fadl bought the bar from a merchant who has sold him real gold before. But he heard counterfeit gold bars were going around, so he drilled into several of his gold bars worth $100,000 and saw gray tungsten — not gold.

The individual 10 ounce bars would normally be worth around $18,000 each.  But bars filled with tungsten, which weighs about the same amount as gold, carry a new value of around $3,600.

“What makes so devious is a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up,” reports Chang.

The Secret Service is reportedly investigating the matter

Here’s a video courtesy of MYFoxNY:

New York News | NYC Breaking News

This article was posted: Wednesday, September 19, 2012 at 2:34 am





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