Elizabethan gold fraud centered on Canadian soil

Kodlunarn Island in Frobisher Bay, is the site of Canada's first gold swindle, according to Canadian scientists. The question: did Elizabeth know the truth?

In 1577, English explorer Martin Frobisher brought tons of black rock back from Canada claiming enormous gold finds, but the rock was worthless. Now scientists from Laval University are trying to determine the extent of the swindle and whether the Queen was in on the fraud.