Tons of gold imports from Ghana turn to dust

[Dotyaw]

Gold imported into the UAE by traders and investors turned out to be fake on closer inspection

Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Speaking to Emirates 24|7, Mohamad Shakarchi,, Managing Director of Emirates Gold, said: "A lot of people in the UAE who tried to import gold at lower prices or through dubious overseas companies have been cheated.

We have inspected many consignments from African countries, especially Ghana, and found that there is not an ounce of gold in them.

For importing pure dust or other metals with yellow colour, these traders have paid several million dirhams.”

IS THIS SAKAWA?

[MegaMeister]

I see 419 finger prints all over this. Naijanese mastermind with Ghanaian minions at work.

[Mind~Virus]

They got what they deserved. I seriously believe these overseas companies try to exploit us by buying smuggled cheap gold from bogus traders. However speculative my claims are, i still believe it would compel them into using, legally and appropriately regulated distribution channels.

As the saying goes, "if it is too good to be true it probably is".