Once the ten banks that accepted Jinling Phoenix Gold Ornaments' gold as collateral confirmed the gold was fake, they immediately issued announcements to explain the problem to the public.
Although the wording varied across banks, the general meaning was similar.
First, there was no issue of interest transfer or the like between them and Jinling Phoenix Gold Ornaments.
Second, all the gold had undergone instrumental verification and the suspension method test, confirming it was real gold. They simply weren't aware that Jinling Phoenix Gold Ornaments had used tungsten, iridium, lead, and other metals to evade the suspension method and instrumental detection.
Third, they were willing to actively cooperate with relevant departments for investigation and evidence collection.
Fourth, they had already called the police, accusing Jinling Phoenix Gold Jewelry Co., Ltd. of defrauding loan collateral with fake gold.
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