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‘Fake gold’ couple get suspended jail term

Updated - Italian couple Bruno Gionatta, 28, and Valeria Puglia, 26, admitted in court today to having tried to sell false gold to Vascas Jewellery of Valletta.

They were condemned to a two-year jail term suspended for four years after declaring that they had returned the €4,700 paid for the false gold.

During the proceedings the court heard that the two are also undergoing usury proceedings in Italy.

The two were arrested just as they were about to leave Malta on Tuesday evening.

They had sold items that included rings, chokers, necklaces and bracelets. But when the shop assistants tested the jewellery they realised it was made of stainless steel and not white gold.

The police arrested the couple as they were at the airport waiting to catch a flight to Rome.

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Mr Bernard Gauci

Apr 21st 2011, 13:29

http://en.wikipedia.org/wiki/White_gold#White_gold

http://en.wikipedia.org/wiki/Platinum

Two completely different chemical elements.

Paul Attard Baldacchino

Apr 21st 2011, 12:42

No It is not. Platinum is a much rarer, expensive and different metal altogether

J. Debono

Apr 21st 2011, 13:30

White gold is actually gold, and dipped in Rhodium.

Rhodium is one of 6 very rare metals, part of the platinum group, and is the most expensive of them all.

However you may be partly right as you can buy a platinum ring. But when they say white gold, it is actually white gold not platinum.

Paul Attard Baldacchino

Apr 21st 2011, 13:46

white gold is gold mixed with another metal usually nickel, manganese or palladium. once the alloy is former it is usually dipped in rhodium to give it a shine

Joseph Vassallo

Apr 21st 2011, 16:32

"... but who in his right mind buys so much gold when the price of gold is at an all time high?"

Jewellers perhaps? Say, like Vascas Jewellers (the ones mentioned in this article)?

Stephen Koludrovic

Apr 21st 2011, 19:27

Today it might seem to be expensive, but in two years time today's prices would be considered as being quite cheap.

Victor Vella

Apr 21st 2011, 21:55

Stephen the price of gold is dependant on peace in the world or to make it more easy to understand as soon as there is a conflict of some magnitude the price increases.so there is no guarantee that the price would rise.
Joseph Vascas and other merchants won't buy gold when it is expensive.I also like to declare that I did not imply that VASCAS which I know to be a very serious company is in any way involved in money laundering.

Joseph Galea

Apr 22nd 2011, 00:41

Well, actually, the article does not said in any way how much gold they bough for their bucks - so probably they bought it at a good price. Obviously this was not the case becuase it was not gold they bought:o

I'm also quiet surprised that a company such as VASCAS handled over the money without FIRST checking if the gold was real or not - which im sure they will be doing from now on :)

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