Legal
Chinese Jeweller Kingold Probed for Historic Fake Gold Bar Fraud
The Nasdaq-listed Kingold reportedly secured $2.8 billion in loans collateralized by 83 tons of gold bars that were apparently just gilded copper. Wuhan-based Kingold borrowed the 20 billion yuan from at least 14 Chinese financial institutions over the past five years backed by gold and insurance policies, according to a…
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Click here to read the full story: Finews.asia