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In China even the gold is fake ...

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XeVfTEUtaAqJHTqq

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Kingold Jewelry secures US$2.8 billion in loans with gilded copper bars, in latest fraud that embarrasses China, irks US


  • Nasdaq-listed Kingold, one of China’s largest jewellery makers, allegedly used 83 tonnes of gold bars as loan collateral, which later turned out to be gilded copper, according to a report by the Caixin news outlet
  • It follows Luckin Coffee’s recent fraud case and is sure to fuel a recent drive by US politicians to expel Chinese companies from Wall Street

https://www.scmp.com/business/compa...ures-usus-28-billion-loans-gold-plated-copper
 
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