Two Employees Jailed Over 13.5kg Gold Fraud, Orders Dh1.4M Repayment

Two sales employees have been ordered to repay more than Dh1.4 million after misappropriating gold entrusted to them by their employer, following a ruling by a Dubai court.

The men, who worked for a gold trading company, had been assigned to sell consignments of gold weighing 13.5 kilogrammes and collect the proceeds. Instead, they breached that trust and diverted the assets for personal use, according to court records.

The offences took place between September 2022 and July 2023. Dubai’s Criminal Court convicted both men, sentencing them to one year in prison and directing them to jointly repay the value of the embezzled gold. The verdict was later upheld by the Court of Appeal.

In a subsequent civil case, the company sought financial compensation. Dubai’s Civil Court ordered the pair to jointly pay Dh1,426,273, along with 5 per cent interest from the date the judgment becomes final.

The case highlights the serious legal consequences of breaching fiduciary responsibilities, particularly in sectors such as gold trading where accountability and trust are paramount.

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