Six more arrested for selling fake gold bars to pawnshops, public: Police

[drean]

ST: Six more arrested for selling fake gold bars to pawnshops, public: Police
Published Apr 8, 2017, 10:37 am SGT. Lydia Lam.

SINGAPORE - Another six men have been arrested for trying to sell fake gold bars, just three days after two men were caught for the same offence.

The men, aged between 17 and 24, were arrested after simultaneous operations on Thursday (April 6) and Friday (April 7) at Joo Koon Road, Kampong Java Road, Yishun and Outram Road.

A total of 45 fake gold bars were discovered, the police said in a news release on Saturday (April 8).

The men had tried to sell the fake gold bars at several pawnshops and to the public, preliminary investigations have found.

The police had received several reports of men trying to sell fake gold bars between March 13 and April 5.

Two people had earlier been arrested on Wednesday (April 5) in relation to the same case.

Three men aged 17, 19 and 24 will be charged for one count of conspiracy to cheat, while investigations against the other suspects are ongoing.

Those found guilty of an offence of cheating can be jailed for up to 10 years and fined.

The police in their release reminded the public to be cautious and not buy gold bars from unreliable sources.

[daniel6886]

the packaging is it 100g?

[Whiterabbit7071]

Looks like 100g. Last Sunday i came across a pawnshop at jurong east mrt selling a PAMP 100g gold bar (veriscan version) at $5270 i couldnt belive my eyes at the huge discount it is offering. There had been rumours of counterfeit PAMP bars veriscan version in circulation recently in many pawnshops. Unless you invest in an eletronic precious metal analyser, you should not buy from pawnshops at the moment. I got scammed recently with a highly sophisticated 1oz PAMP veriscan versiom from china. All the qr codes are the same from china. Luckily i bought the item using Paypal and got back 95% of what i paid for.

[MasterID]

Originally Posted by Whiterabbit7071

I got scammed recently with a highly sophisticated 1oz PAMP veriscan versiom from china. All the qr codes are the same from china. Luckily i bought the item using Paypal and got back 95% of what i paid for.

Care to share more info to help the community learn and avoid in future? Like picture etc.

[Altima]

Damn, this is when the Precious Metal Verifier will come in really handy.

[Whiterabbit7071]

Originally Posted by Altima

Damn, this is when the Precious Metal Verifier will come in really handy.

Precious metal analyser is indeed important now. Cannot trust even pawnshops too. Google on counterfeit PAMP veriscan. All the QR codes are the same. There are also distinct characteristics of the serial number font size and the etching of serial numbers.

[coolmax]

Just sharing - not 100% sure fool proof but I been working using this in all my dealing for bullion coins.

https://www.thefisch.com/

I had shown this to a few forum members. Just for peace of mind.

[freeier]

that's the problem of having an assay packaging that supposedly authenticate the bar but actually deters real check done on the bars.

gold is what it is suppose to be. its an element. u cant fake an element. it can be tested easily...


the insistence of us on having receipts and certificates and assay cards etc are quite amusing