Three men have been sentenced to prison for their involvement in the theft of gold worth more than Dh800,000 from a Dubai jewellery company. The defendants, two Egyptian nationals aged 47 and 41, and one Indian national aged 35, were charged for crimes committed on September 28, 2023, in Dubai’s Naif area. The first and second defendants embezzled a total of Dh824,604.17 from the jewellery company where they were employed.
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 a clandestine goldsmith workshop without the company’s consent, employed workers under the company’s name, and paid their salaries from the company’s funds. He also altered employment contracts and significantly increased his own monthly salary.
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 wages 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 alerted him of suspicious activities, such as the purchasing of gold at inflated prices. Upon investigating, he discovered the unauthorised goldsmith workshop and reported the issue to his partner, leading to the discovery of 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 and jointly fined Dh824,604.17. They were ordered to be deported after serving their sentences. The third defendant was sentenced in absentia to one month in prison and fined Dh236,823, with deportation to follow upon his arrest. Overall, the defendants were involved in embezzling funds from the company through fraudulent activities.
In conclusion, the theft of gold worth more than Dh800,000 from a Dubai jewellery company led to the sentencing of three individuals involved in the crime. The defendants used their positions within the company to establish a clandestine goldsmith workshop and recruit workers under false pretences, leading to fraudulent activities and embezzlement. With the help of forensic accounting reports and testimony from company representatives, the court was able to convict the defendants and sentence them to prison time and fines. The defendants’ actions have highlighted the importance of transparency and accountability in business operations to prevent such crimes from occurring again.
