Hong Kong police have arrested two men who allegedly used fake gold items to swindle pawn shops across the city out of HK$440,000 (US$56,587), as prices for the precious metal reached record-breaking highs amid wider global economic uncertainty.
The force said on Wednesday that officers from its Wong Tai Sin branch had arrested a 27-year-old and a 54-year-old earlier this week on charges of “obtaining property by deception” and “attempting to obtain property by deception”.
Investigations suggested the two men had pawned “highly realistic” fake gold objects at shops in Kowloon and the New Territories between July and September.
It is understood that three shops suffered total losses of HK$440,000 as a result of the scam. The men also tried to pawn the fake items at three other shops but were unsuccessful.
The force said one of the suspects remained in custody for further investigation, while the other had been released on bail and must report back later in October. It was not immediately clear which suspect had been released.
Under the Theft Ordinance, anyone found guilty of obtaining property by deception can face up to 10 years in prison.
