VIDEO. Discovery of Approximately 2 kg of Counterfeit Gold Ingots Production and Sale

The National Security Service of the Republic of Armenia has revealed a case of production and sale of counterfeit gold ingots weighing approximately 2 kg as a result of extensive operational and investigative measures aimed at combating economic crimes.

According to preliminary data obtained, a group of individuals in Armenia, having reached a preliminary agreement, produced silver alloys covered with gold resembling gold ingots through individuals engaged in jewelry business and initiated their sale.

Specifically, on September 8, 2019, approximately 0.5 kg of these counterfeit ingots was fraudulently sold to a citizen of the Islamic Republic of Iran in exchange for an equivalent of $9,000. Subsequently, on September 23, these individuals attempted to sell an additional 1.5 kg of counterfeit gold ingots to the same citizen for a total value of $27,000; however, the transaction was conducted under the operational supervision of NSS employees, and immediately after, the individuals committing the apparent crime were detained.

Furthermore, according to reliable operational data, they had also pawned counterfeit gold ingots at one of the banks in Armenia, receiving money in return.

A criminal case was initiated in accordance with relevant articles of the RA Criminal Code by the investigative department of the NSS, and it has been sent to the Investigative Committee of the Republic of Armenia for further investigation. Two individuals have been arrested, while measures have been employed to ensure the third individual does not flee.