Bangkok's Counterfeit Gold Production Den Raided

[webfact]

Bangkok's Counterfeit Gold Production Den Raided

BANGKOK: -- Bang Sao Tong police officers invaded what they thought was a gambling and drug den in the Phasi Charoen District, but the place turned out to be a hideout for making fake gold.

Bang Sao Tong police have arrested Tanakorn Apornchai, and five gold makers at Soi Jarun Villa 13 in Phasi Charoen District.

The police seized nine gold making tables, fake gold trademark molds, and ornamental gold making equipment.

Police had received a report that the suspect's home was being used as a gambling den and crack house.

However, they found something even more sinister inside the home, as the suspects were making counterfeit gold.

They were inserting silver into the gold and selling it to gold and pawn shops in the Bang Lamphu, Prachautit, and Saphan Kwai area.

According to police, the main suspect admitted that he is a silver and jewelry maker.

When his friend showed him ways to make fake gold, he started making it and selling it to gold shops.

The suspect claimed he only recently started making the fake gold.

The suspects were charged with making counterfeit gold trademarks.

A further investigation will be launched.

In the meantime, police have urged victims to identify the suspects at the Bang Sao Tong police station.

Furthermore, police have arrested 15 gamblers in possession of drug tools.

Meanwhile, Gold Trader Association Committee member Somboon Puchongsopapan inspected the fake gold, and found that there was only 10 percent real gold remained when the fake gold was melted.

He added that the association will provide further education about fake gold for committee members.

-- Tan Network 2012-01-26

[maidu]

Sounds like a talented dude. too bad he didn't use his skills for good.

[moe666]

Its not fake more like 6 karat gold instead of 24 karat

[TAWP]

Not fake per se, but it is a scam towards sellers and purchasers.

[AleG]

Funny how they say that a gold scam operation is more sinister than a drugs den.

[Time Traveller]

Its not fake more like 6 karat gold instead of 24 karat

It is fake when you put another company's name on your own product as mentioned

Edited January 26, 2012 by Time Traveller

[Misterwhisper]

"However, they found something even more sinister inside the home, as the suspects were making counterfeit gold."

Why would this be 'even more sinister' than the house allegedly serving as a gambling den and crack house? Sometimes the choice of words of local journalists makes my mind boggle.

[slapout]

The sinster comes from no one outside of the scam artists were getting a cut/making money off the punters/suckers or whatever term you want to use.

[monty1412]

Its not fake more like 6 karat gold instead of 24 karat

read the post they are encapsulating silver with layer of gold and passing it of as 99.6% gold.. of course its bloody fake.. silver USD 39/oz Gold USD 1710/ oz....

[monty1412]

The sinster comes from no one outside of the scam artists were getting a cut/making money off the punters/suckers or whatever term you want to use.

exactly what i was about to write... 100% spot on

[Johpa]

read the post they are encapsulating silver with layer of gold and passing it of as 99.6% gold.. of course its bloody fake.. silver USD 39/oz Gold USD 1710/ oz....

This has been going on for decades if not longer and is perhaps the norm. Inside Thailand you can take Thai "baat" gold and sell it back to the local gold shops, but you can't take it to the same type of Chinese owned gold shops in other countries and sell it in the same manner. Some twenty years ago my wife once took some Thai gold chain to a Chinese gold shop here in the US and the owner gave her a first hand demonstration of why he would not buy Thai gold and even replated the chain for free. The real Hi-So Thais, not the wanna-bes who who allow their daughters to marry white guys, buy their gold in Hong Kong.

By the way, during the times of trouble in 2010, rumor has it than many tons of real gold in Thailand were sold off representing a signigicant relocation of capital out of the Kingdom. A neighboring country was rumored to have purchased part of the amount, at around 40 tons, wth the proceeds deposited elsewhere.

[Scott]

Wouldn't it be reasonably easy to test the gold? Especially with gold bars, the weight and the size (volume) should give you the gold content?

I don't know much about buying gold, but if you put a gold bar in a carefully calculated amount of water, the displacement should give you an idea of the density of the material and thus it's purity.

[OzMick]

Wouldn't it be reasonably easy to test the gold? Especially with gold bars, the weight and the size (volume) should give you the gold content?

I don't know much about buying gold, but if you put a gold bar in a carefully calculated amount of water, the displacement should give you an idea of the density of the material and thus it's purity.

The weight of the displaced volume of water will tell you its weight IF it floats, but only the volume of an irregular shaped object if it sinks. The object would then have to be weighed very accurarely and the density (ratio of weight to volume) calculated. But shouldn't be too hard to pick as gold's density is 19.3 and silver 10.5 g/cc.

Jewellers pick alloyed gold by heating to red hot. The silver will oxidize and appear as black spots.

[Ricardo]

The sinster comes from no one outside of the scam artists were getting a cut/making money off the punters/suckers or whatever term you want to use.

The BiBs must be outraged, at being denied their usual cut ! What on earth is the world coming-to ?

But the Som-Tam lady, fount of wisdom on all things Thai, tells me that the BoT is planning to recruit these alchemists, to assist in 'stretching' the country's remaining gold-reserves, as part of the new-government's strategy to finance their spending-plans.

I did explain to her that there was a queue, and that the Greeks & Italians & UK were ahead of Thailand, in needing the criminals' services !

Edited January 27, 2012 by Ricardo

[anterian]

So local gold dealers have never heard of Archimedes?

[BigJohnnyBKK]

"However, they found something even more sinister inside the home, as the suspects were making counterfeit gold."

Why would this be 'even more sinister' than the house allegedly serving as a gambling den and crack house? Sometimes the choice of words of local journalists makes my mind boggle.

Few care about the victims of drugs and gambling, but there would indeed be widespread disruption of the more important ( = economic) parts of Thai society of the general public started trusting their gold shops as little as they do the banks.

[belg]

i wonder how that news would report a whorehouse or pedofile ring in comparison with fake gold or drugs or gambling ?

[dean999]

I feel a new hub is being started.

[TheKeeNok]

A fear of this is why I never bought physical gold in LOS! Wheeew!

[EyesWideOpen]

Bet the Chinese gold dealers are hopping mad over this story..... Once it becomes widely known that there is a bunch of fake gold floating around, people will cease buying it. Everything else is fake here, makes sense the gold should be fake too........ :-)

[IAMHERE]

Funny how they say that a gold scam operation is more sinister than a drugs den.

More sinister is a way of saying 'less tea money'.

[Johpa]

Bet the Chinese gold dealers are hopping mad over this story..... Once it becomes widely known that there is a bunch of fake gold floating around, people will cease buying it. Everything else is fake here, makes sense the gold should be fake too........ :-)

As long as the gold shops continue to buy back the heavily plated gold at current market rates there is no problem for Thais as it still serves as a hedge against currency flucuations. The only issue arises when Thais travel overseas and can only sell the items as plated costume jewelery.

[heybruce]

Its not fake more like 6 karat gold instead of 24 karat

My understanding is that 6 karat would be 25% gold. As this stuff was 10% gold, it was 2.4 karat. I assume there isn't much of a market for 2.4 karat gold, at least I don't see any jewelry advertised as such.

[wxyz]

hm, let's see, jet ski rental scam, motorbike rental scam, tuk tuk scam, taxi scam/taxi mafia, bar entrance fee scam, fake monk scam, house rent scam, short change scam, holiday club scams, fake police scam tailor scam, gem scam, carry my gem scam, gold scam, argh

http://www.bangkoksc...iland/index.php

Edited January 28, 2012 by wxyz

[Soutpeel]

hm, let's see, jet ski rental scam, motorbike rental scam, tuk tuk scam, taxi scam/taxi mafia, bar entrance fee scam, fake monk scam, house rent scam, short change scam, holiday club scams, fake police scam tailor scam, gem scam, carry my gem scam, gold scam, argh

http://www.bangkoksc...iland/index.php

LOS - Land Of Scams, A regional hub of scamary

A further scam to add to your list.....the bra stuffing scam, young ladies presenting themselves to be well endowned, but on closer examination one finds the bra has been stuffed.....absolutely outrageous....I demand the authorites crack down on this practice immediately and any wronged parties should be entitled a 50% refund on their purchase....

Edited January 28, 2012 by Soutpeel

[wxyz]

hm, let's see, jet ski rental scam, motorbike rental scam, tuk tuk scam, taxi scam/taxi mafia, bar entrance fee scam, fake monk scam, house rent scam, short change scam, holiday club scams, fake police scam tailor scam, gem scam, carry my gem scam, gold scam, argh

http://www.bangkoksc...iland/index.php

LOS - Land Of Scams, A regional hub of scamary

A further scam to add to your list.....the bra stuffing scam, young ladies presenting themselves to be well endowned, but on closer examination one finds the bra has been stuffed.....absolutely outrageous....I demand the authorites crack down on this practice immediately and any wronged parties should be entitled a 50% refund on their purchase....

OMG, that is bad, but I still find the ladyboys pretending to be ladies as, how they put it, "something even more sinister".

I prefer original equipment and born female.

Edited January 28, 2012 by wxyz

[Soutpeel]

hm, let's see, jet ski rental scam, motorbike rental scam, tuk tuk scam, taxi scam/taxi mafia, bar entrance fee scam, fake monk scam, house rent scam, short change scam, holiday club scams, fake police scam tailor scam, gem scam, carry my gem scam, gold scam, argh

http://www.bangkoksc...iland/index.php

LOS - Land Of Scams, A regional hub of scamary

A further scam to add to your list.....the bra stuffing scam, young ladies presenting themselves to be well endowned, but on closer examination one finds the bra has been stuffed.....absolutely outrageous....I demand the authorites crack down on this practice immediately and any wronged parties should be entitled a 50% refund on their purchase....

OMG, that is bad, but I still find the ladyboys pretending to be ladies as, how they put it, "something even more sinister".

I prefer original equipment and born female.

In the case of a LB...a full refund would be expected, the 50% refund would only appy to personages who are actually born female but have misrepresented how far their "top drawer" sticks out, but their nether region's are fully functional an operational...

Edited January 28, 2012 by Soutpeel

[z12]

"fools gold"

Edited January 29, 2012 by z12

[BusyBee123]

'Some twenty years ago my wife once took some Thai gold chain to a Chinese gold shop here in the US and the owner gave her a first hand demonstration of why he would not buy Thai gold and even replated the chain for free. The real Hi-So Thais, not the wanna-bes who who allow their daughters to marry white guys, buy their gold in Hong Kong'

so you married a tramp and bought fake gold, no need to tar us with your low standards

[4.real]

Wouldn't it be reasonably easy to test the gold? Especially with gold bars, the weight and the size (volume) should give you the gold content?

I don't know much about buying gold, but if you put a gold bar in a carefully calculated amount of water, the displacement should give you an idea of the density of the material and thus it's purity.

The weight of the displaced volume of water will tell you its weight IF it floats, but only the volume of an irregular shaped object if it sinks. The object would then have to be weighed very accurarely and the density (ratio of weight to volume) calculated. But shouldn't be too hard to pick as gold's density is 19.3 and silver 10.5 g/cc.

Jewellers pick alloyed gold by heating to red hot. The silver will oxidize and appear as black spots.

This was discovered by Archimedes when he was given the task of finding out if gold jewellery made by goldsmiths for a Greek King was fake.

Sitting in his bath he exclaimed 'Eureka' .