Mystery of $2bn of loans supported by fake silver in Asia
Mystery of $2bn of loans supported by fake silver in Asia Nasdaq-listed Kingold’s play for trove of home stymied by corruption probe Significantly more than a dozen Chinese institutions that are financial mainly trust companies, loaned 20 billion yuan ($2.8 billion) in the last 5 years to Wuhan Kingold Jewelry Inc. With pure gold as collateral and plans to pay for any losings. Kingold could be the biggest privately owned silver processor in main Asia’s...
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