And now for something slightly different....counterfiet gold
RWB
Posts: 8,082 ✭
by Elizabeth Blunt
BBC News, Addis Ababa
Twenty-six people are under arrest over the discovery of 90kg (14 stone) of fake gold in the vaults of Ethiopia's central bank, a senior official says.
The fraud was discovered after some of the supposed gold was sent to South Africa, where it was found to be gold-plated steel. The value of the missing gold is around $16m for just one case.
Those held are expected to be charged in the next couple of weeks.
Rumours have been flying around the capital Addis Ababa about what happened to the real gold and who was to blame.
Those being held include officials of the national bank, said Berhanu Assefa, a spokesman for Ethiopia's Ethics and Anti-Corruption Commission.
The commission has been investigating the case for three months along with Ethiopian police and intelligence officials.
"Around 26 are under arrest - seven from the national bank of Ethiopia, four from the Ethiopian Geological Survey and 15 businessmen and their collaborators have been arrested," Mr Assefa said.
"No-one has yet been charged - we expect that... our prosecutor will charge them."
The first hint that something was wrong reportedly came when the Ethiopian central bank exported a consignment of gold bars to South Africa.
The South Africans sent them back, complaining that they had been sold gilded steel.
An investigation revealed that the bank had bought a consignment of fake gold from a supplier, who is now under arrest.
The value of the missing gold was around 158m Ethiopian birr, or $16m for just one of the missing cases, he said, adding this was a huge amount for a poor country such as Ethiopia.
BBC News, Addis Ababa
Twenty-six people are under arrest over the discovery of 90kg (14 stone) of fake gold in the vaults of Ethiopia's central bank, a senior official says.
The fraud was discovered after some of the supposed gold was sent to South Africa, where it was found to be gold-plated steel. The value of the missing gold is around $16m for just one case.
Those held are expected to be charged in the next couple of weeks.
Rumours have been flying around the capital Addis Ababa about what happened to the real gold and who was to blame.
Those being held include officials of the national bank, said Berhanu Assefa, a spokesman for Ethiopia's Ethics and Anti-Corruption Commission.
The commission has been investigating the case for three months along with Ethiopian police and intelligence officials.
"Around 26 are under arrest - seven from the national bank of Ethiopia, four from the Ethiopian Geological Survey and 15 businessmen and their collaborators have been arrested," Mr Assefa said.
"No-one has yet been charged - we expect that... our prosecutor will charge them."
The first hint that something was wrong reportedly came when the Ethiopian central bank exported a consignment of gold bars to South Africa.
The South Africans sent them back, complaining that they had been sold gilded steel.
An investigation revealed that the bank had bought a consignment of fake gold from a supplier, who is now under arrest.
The value of the missing gold was around 158m Ethiopian birr, or $16m for just one of the missing cases, he said, adding this was a huge amount for a poor country such as Ethiopia.
0
Comments
at random.
LOL
That is pretty bad..
I had a Saudi freind tell me once the biggest differnce between the US and the World is in the US the government steals 2% and gives back to the people 98%, while in the middle east (and most of the rest of the world) the government steals 98% and gives back 2%. I don't know much about the laws in Ethopia, but they don't play nice. I would say some people are about to have a very bad day.
"I am sorry you are unhappy with the care you recieved, is their anything I can do for you right now, how about some high speed lead therapy?" - A qoute from my wife's nursing forum
"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." – Thomas Jefferson
I don't think I will be purchasing any Ethopian Gold.
I've seen fake Ethiopian gold bars on sale on Ebay for about $20 before-- I just bet these were used to show rubes that "Yes, indeed, we have the gold that we want to move to you here, in our vault, please send up $5,000 so we can do this."
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1