JOHOR BARU - A syndicate has been using fake gold rings and successfully pawning them as genuine jewellery at about 20 pawnshops and banks in Johor.
The members were said to have pawned the rings, weighing over 22g each, for RM2,500 (S$938). The market value for each ring is over RM3,500.
Police uncovered their activities when two men, in their 30s, were arrested after one of them tried to pawn a ring at a shop in Taman University last month.
Sources said the suspect got RM2,500 from the sale of a ring to a pawnshop on Jan 26.
He returned the next day to pawn another ring.
"The pawnshop staff checked the ring thoroughly and suspected that it was fake and alerted the police," the source said
The man then led police to a house and arrested a second man. The officers also recovered 20 pawnshop receipts.
Johor Baru North OCPD Asst Comm Mohd Khamsani Abdul Rahman urged those with information to call the police hotline at 07-2212999.