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Edmonton police warning public about fake gold bars

Jan 9, 2017 | 1:57 PM

EDMONTON — The Edmonton Police Service is warning the public about a counterfeit gold scam in the city after an investigation uncovered thousands of dollars in fake gold bars, which have been found elsewhere in western Canada.

Police began investigating after receiving information late last year regarding the sale of suspected counterfeit gold bars to various merchants in Edmonton, determining the bars sold were merely copper bars plated with gold.

Police said they have recovered a total of 220 grams of counterfeit gold with a market value of $10,000. The bars appeared to be professionally packaged and authentic.

The counterfeit gold bars are being sold in various weight denominations and range in price. They weigh between 10 and 31 grams per piece and suspects are selling them for anywhere between $300 and $800 each.

Police say in reality, the gold-plated copper bars are only worth about a dollar.

Last month, RCMP in Saskatchewan said they were actively investigating fake gold sales complaints in Alberta, Saskatchewan and Manitoba. A traffic stop east of Regina resulted in the arrest of three men and the seizure of 32 pieces of counterfeit gold and platinum with a street value of between $50,000 and $100,000. A similar warning was issued in Winnipeg late in December.

Police are advising people to be cautious if they are approached by someone selling gold bars. Police encourage all buyers and merchants to ask questions and request a receipt from the seller.

Anyone who has information about the counterfeit gold bars is encouraged to contact the EPS at 780-423-4567 or #377 from a mobile phone. Anonymous information can also be submitted to Crime Stoppers at 1-800-222-8477.