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Fake 10 oz Gold Bar turns up in Manhattan Jewelry district

PostPosted: Tue Sep 18, 2012 8:56 pm
by brian0918
In jewelry stores on 47th Street and Fifth Avenue the important trust between merchants has been violated. A 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit.

The bar was filled with tungsten, which weighs nearly the same as gold but costs just over a dollar an ounce.

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.


http://www.myfoxny.com/story/19578206/f ... -manhattan