உலகிலேயே மிகப்பெரிய தங்க ஊழல்! வசமாக சிக்கிய சீனா ! #Fakegold #China
- 4 years ago
#Kingold
Big gold fraud busted in China.One of China’s largest gold jewelry manufacturers, Kingold Jewelry Inc., has been using fake gold to secure loans.The total amount obtained as loan was around 2.8 billion dollars.
As per the report, the company used 83 tonnes of gold bars as collateral and insurance policies to cover any losses but many of them have turned out to be gilded copper.The fake gold was first discovered when Dongguan Trust Co. Ltd. tried to liquidate Kingold’s collateral to cover defaulted debts. However, the gold bars turned out to be just gilded copper alloy.
The 83 tons of purportedly pure gold would be equivalent to 22% of China’s annual gold production and 4.2% of the state gold reserve as of 2019.Kingold chief Jia Zhihong, has denied that the company lodged fake bars with Chinese lenders. Jia has served in the military in Wuhan and Guangzhou.
CREDITS
Voice- Soundarya | Script -S.Karthikeyan | Edit - Shreeraj
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Big gold fraud busted in China.One of China’s largest gold jewelry manufacturers, Kingold Jewelry Inc., has been using fake gold to secure loans.The total amount obtained as loan was around 2.8 billion dollars.
As per the report, the company used 83 tonnes of gold bars as collateral and insurance policies to cover any losses but many of them have turned out to be gilded copper.The fake gold was first discovered when Dongguan Trust Co. Ltd. tried to liquidate Kingold’s collateral to cover defaulted debts. However, the gold bars turned out to be just gilded copper alloy.
The 83 tons of purportedly pure gold would be equivalent to 22% of China’s annual gold production and 4.2% of the state gold reserve as of 2019.Kingold chief Jia Zhihong, has denied that the company lodged fake bars with Chinese lenders. Jia has served in the military in Wuhan and Guangzhou.
CREDITS
Voice- Soundarya | Script -S.Karthikeyan | Edit - Shreeraj
Vikatan App - http://bit.ly/2Sks6FG
Subscribe Vikatan Tv : https://goo.gl/wVkvNp