Ukraine Central Bank authorities are investigating fake gold bars found in the bank’s storage facility in Odessa.

Genuine gold bars had been removed and replaced with lead bricks covered in gold paint, according to a story posted Dec. 24 on the International Business Times website, www.ibtimes.com.

The story indicates authorities are looking into the possibility that a bank employee was involved in the theft, reportedly five months ago.

The unidentified employee may have deposited the fakes as gold bullion and then stolen the genuine gold. The employee is suspected of having fled to Crimea sometime between August and October of 2014. The bars could be worth almost £270,000.

On Dec. 19 the Ukraine Central Bank said it will no longer buy gold from the general population.

More from CoinWorld.com:

When are they going to open the Boston time capsule and see what's inside?

U.S. Trade dollar series remains one of the most heavily counterfeited among U.S. coins

Carson City Mint coins unwanted when first struck but now they are wildly popular

United States Mint to offer 1-ounce silver Proof 2015-W American Eagle dollar beginning Jan. 2

Can a Modern commemorative $1 outshine a 1907 High Relief $20?

Keep up with all of CoinWorld.com's news and insights by signing up for our free eNewsletters, liking us on Facebook, and following us on Twitter. We're also on Instagram!