Bank Caught Using Fake Gold As Reserve Capital In Russia

According to Russia's Banki.ru, as part of a probe in the Admiralty bank, the central bank regulator questioned the existence of the bank's reported quantity of precious metals held in reserve. Citing a source, Banki.ru notes that as part of its probe, instead of gold, the "regulator found gold-plated metal."

Bank Caught Using Fake Gold As Reserve Capital In Russia