Chinese Arrested in Fake Gold Scam With 200 Fake Ingots

Six Chinese men have been apprehended with about 200 fake gold ingots after allegedly duping wealthy businessman in Chinatown into purchasing fake gold for 10 million baht.

Bangkok’s Metropolitan Police Bureau (MPB), reported yesterday that the six Chinese nationals were apprehended in front of Hua Lamphong railway station in the Rong Muang area of Pathumwan district on Monday on charges of colluding in theft and criminal association.

Chinese nationals,. Zhong Xiaocong, 44, Li Xiaoyuan, 45, Zeng Nanjing, 54, Yang Cuiyuan, 51, Zhu Zhihua, 48, and Guo Xianyu, 49 were arrested by Bangkok Metropolitan police officers.

According to police, 179 phony gold bars, 10 fake gold statues, 8 thin sheets of genuine gold, 46 books belonging to a Chinese association in Thailand, 24 ATM cards, 12 mobile phones, and goldsmiths tools were also seized.

The suspects were members of the “Mangkorn Jiangxi” [Jiangxi Dragon] gang who reportedly defrauded Thais of Chinese heritage in Chinatown of approximately ten million baht.

The suspects discovered their victims in a book that listed the names of Thai-Chinese ancestors. They chose rich people and then called them using the same techniques as call scam gangs. According to Pol Maj Gen Teeradej, the group previously worked as phone fraudsters in Indonesia.

The gang mixed real gold with fake gold and used the former as proof of validity. The accused claimed to hold a gold mining concession in Ayutthaya province to their victims.

The arrests were made in response to a complaint filed by a Chinese businessman of Thai nationality who claimed he was duped out of 500,000 baht by a Chinese gang into purchasing gold that turned out to be phony.

Police investigations discovered that the group had used a similar ruse to defraud other victims. To lure them into the trap, the gang displayed numerous gold bars and sliced one into small pieces that the victims could inspect for authenticity.

The authenticity of the samples had been validated by gold merchants. The gang departed when the money was paid. The victims only discovered the gold was fake after they had gone.

The charges were disputed by all of the suspects. They told authorities they were from Jiangxi in China, but they later acknowledged to working for a phone fraud ring in Indonesia before travelling to Thailand. The suspects were handed over to authorities for further investigation.

Fake Gold Scams Thailand

Fake gold, also known as counterfeit gold, refers to any material that is made to look like real gold but is not actually made of genuine gold. Fake gold can be made from a variety of materials, including copper, brass, tungsten, and even plastic.

There are several reasons why someone might create fake gold. One reason is to deceive people into paying a higher price for a product than it is worth. Another reason is to create counterfeit gold coins or jewelry that can be sold to unsuspecting buyers.

To avoid purchasing fake gold, it is important to work with reputable dealers and to have any gold items you are considering purchasing authenticated by a professional appraiser or testing facility. Additionally, you can use a magnet to test whether an item is made of genuine gold. Real gold is not magnetic, so if a magnet sticks to an item that is supposed to be gold, it is likely fake.

Unfortunately, fake gold scams are frequent in Thailand, particularly in tourist regions where scammers may try to take advantage of naïve visitors. Scammers may attempt to sell fake gold jewellery or bars at exorbitant prices, typically claiming that the items are of excellent quality or rare.

It is critical to take some precautions to prevent being a victim of a fake gold scam in Thailand or anyplace else. These could include:

1. Only purchase gold from trustworthy merchants or stores you can trust. Before making a purchase, research the store or dealer and look for reviews or ratings from prior customers.

2. Have the gold assessed or examined by an expert to ensure its genuineness. There are various methods for determining the authenticity of gold, including utilising a magnet or doing an acid test.

3. Avoid deals that appear to be too good to be true. If you are offered gold at a much cheaper price than the market rate, it is most certainly a forgery.

4. Be wary of strangers who approach you on the street and attempt to sell you gold. In many situations, these people are con artists attempting to take advantage of travellers.

5. Apply common sense and trust your intuition. If something seems strange or makes you feel uneasy, walk away and avoid making a transaction.

You can help protect yourself from falling victim to a fake gold scam in Thailand or elsewhere by taking these steps and remaining vigilant.