Two employees jailed and fined after misappropriating 13.5kg of gold entrusted to them
Two sales employees have been ordered to repay more than Dh1.4 million after embezzling gold entrusted to them by their employer, according to a Dubai court ruling.
The pair, who worked for a gold trading company, were tasked with selling shipments of gold weighing 13.5 kilograms and collecting the proceeds. However, they abused their position of trust and misappropriated the assets for personal gain, court records showed.
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The case dates back to incidents between September 2022 and July 2023. Dubai’s Criminal Court convicted both defendants, sentencing them to one year in prison and ordering them to jointly repay the value of the embezzled assets. The ruling was later upheld by the Court of Appeal, Al Khaleej Arabic daily reported.
Following the criminal proceedings, the company filed a civil case seeking financial compensation. Dubai’s Civil Court subsequently ordered the two men to pay Dh1,426,273 jointly, along with 5 per cent interest from the date the judgment becomes final.
The case underscores the legal consequences of breaching fiduciary duties, particularly in high-value sectors such as gold trading, where trust and accountability are critical to business operations.
