Germany makes arrests in fake GML coins

After a months-long investigation, German police arrested three men on June 2 after the trio was accused of selling thousands of counterfeit Gold Maple Leaf (GML) bullion coins.

Since this January, police allege the scammers bilked online buyers out of about 80,000 euros (about $110,000 Cdn.) by selling the fake coins, whose genuine counterparts are produced by the Royal Canadian Mint. During the arrest, police also seized 19 fake GMLs plus several hundred euros in cash

One victim responded to an online ad and bought 15 fake coins for more than 20,000 euros (about $27,000 Cdn.).

Chief Inspector Dustin Hochkeppel, the lead investigator, said: “We suspect there may be other victims who may not even know they have counterfeit gold coins in their vault. Anyone who has bought Canadian ‘Maple Leaf’ gold coins through unconventional channels, particularly through private classifieds, in recent months should … have the authenticity checked immediately. If signs of forgery are identified, we ask that you contact the police.”

According to police, one victim responded to an online advertisement before buying 15 fake GMLs for more than 20,000 euros (about $27,000 Cdn.).

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