Man charged over sale of fake gold Bhudda statues

New South Wales Police has charged a thirty-five year old man after he allegedly sold fake gold Bhudda statues and ingots to members of Sydney's Chinese community.

Eight Buddha statues and 100 replica gold ingots were seized by police. (NSW Police) Source: NSW Police

Police seized eight Buddha statues and 100 replica gold ingots from a Pyrmont hotel, where he had been staying.

Five mobile phones, cash in various currencies and photocopies of allegedly false passport identities were also found in the hotel room.

Ming Zhu, 35, had been in the country for three months and had allegedly been attempting to sell the fake gold items members of Sydney's Chinese community.

One woman lost $60,000 last month after purchasing what she thought to be a genuine gold Bhudda statue.

"The victim purchased a number of items and took to them to a gold dealer where it was confirmed that the items were not gold. They were copper based," Detective Superintendent Mark Jones said.

The items were allegedly made from gold-painted copper. (NSW Police) Source: NSW Police

(NSW Police)

"There was a phone call made to the victim. There was story put to the victim, a very believable story that managed to allow them to hand over money for items."

The value of items if they had been genuine gold would be worth millions, but because they are essentially copper covered in gold paint the items are worth next to nothing, the Detective Superintendent Jones said. 

He said the case is unusual in Sydney, but he is aware of similar stings condicted in Melbourne, Japan and Canada.

Police are investigating whether Mr Ming was acting alone.

"We certainly have our suspicions that he was certainly involved with other members and it is not just an individual working in isolation," Mr Jones said. 

Police are urging those with more information to come forward.

"Certainly we would say if members of the public are concerned or have any suspicions at all that they should contact police. And we're more than happy to have those conversations with them - and pass on information we believe can prevent someone else from being a victim of crimes such as this."

Mr Ming was charged with possessing identity information to commit an indictable offence, dealing with the suspected proceeds of crime and two counts of dishonestly obtaining property by deception.

He appeared in Central Local Court yesterday and today, where he was refused bail to face the same court on August 19.