Three Men Sentenced for Dh800,000 Gold Theft, Facing Prison and Deportation

Three men have been sentenced to prison for stealing gold worth more than Dh800,000 from a Dubai jewellery company.

Dubai public prosecutors charged two Egyptian nationals, aged 47 and 41, and an Indian national, aged 35, for crimes committed on September 28, 2023 in Dubai’s Naif area.

The Dubai Criminal Court heard that the first and second defendants embezzled Dh824,604.17 from the jewellery company where they worked. They abused their positions by setting up a secret goldsmith workshop and hiring 10 workers under the company’s name without its knowledge.

They paid these workers' salaries from the company's accounts, created fake agreements and significantly inflated their own salaries. The third defendant, who is still at large, received Dh236,823, knowing it was obtained through the crimes committed by the first two defendants.

The court found that the first two defendants used their positions within the company to conduct unauthorised activities.

The first defendant, a 35-year-old Indian national, established the clandestine goldsmith workshop without the company's consent and employed workers under the company's name, paying their salaries from the company's funds.

He also brokered agreements to loan workers to another jewellery company, altered employment contracts and increased his own monthly salary from Dh10,000 to Dh50,000.

The second defendant, a 47-year-old Egyptian national, facilitated the employment of his 41-year-old brother, the third defendant, at the company. He arranged for his brother's salary to be Dh3,500 but deposited an additional Dh25,000 monthly into his account under the guise of wage protection.

The third defendant later fled the country after taking out a loan of over Dh1.5 million. A representative of one of the jewellery company's partners testified that the offence came to light in May 2023 after workers reported suspicious activities, such as purchasing gold at inflated prices.

Upon investigation, the representative discovered the unauthorised goldsmith workshop and reported the issue to his partner, uncovering further fraudulent activities.

A forensic accounting report confirmed the embezzlement and fraudulent activities.
The first and second defendants were found guilty and sentenced to three months in prison. They were jointly fined Dh824,604.17 and will be deported after serving their sentences.

The third defendant was sentenced in absentia to one month in prison, fined Dh236,823, and will be deported upon his arrest. Videos - 0