Kingold’s unfolding scandal has shaken investor confidence. Photo: Dickson Lee Kingold’s unfolding scandal has shaken investor confidence. Photo: Dickson Lee
Kingold’s unfolding scandal has shaken investor confidence. Photo: Dickson Lee

Nasdaq-listed Kingold Jewelry says it’s under investigation for using fake gold to secure US$2.9 billion of loans

  • Kingold Jewelry allegedly passed off 83 tonnes of gilded copper bars as gold bars to secure 20 billion yuan (US$2.9 billion) of loans in China
  • The Wuhan-based jeweller faces lawsuits in China and the US, and all its bank accounts had been frozen

Topic |   Accounting and Auditing
Kingold’s unfolding scandal has shaken investor confidence. Photo: Dickson Lee Kingold’s unfolding scandal has shaken investor confidence. Photo: Dickson Lee
Kingold’s unfolding scandal has shaken investor confidence. Photo: Dickson Lee
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