Manager cleared of misappropriating gold
Investor had filed lawsuit in Dubai Ruler’s Courts regarding production deficit of 18.5kg of the metal
The Expertise and Dispute Settlement Department of the Dubai Ruler’s Courts has acquitted a production manager of misappropriation of 18.5kg of gold.
The manager was accused of misappropriating 18.5 kg of gold by an investor who lodged a lawsuit at Dubai Courts claiming that the missing quantity be recovered, or he be compensated for it.
The plaintiff, who invests in gold jewellery manufacturing, had asked his product manager who was working with him for almost three years, to manage the gold and jewellery section at his company.
Hashim Al Qiwani, Director of the department, said: “The complainant told the court that the defendant made him believe that he can make big profits due to his vast experience in jewellery manufacturing.”
In his complaint, the plaintiff said that his company discovered a decline in gold output during the regular inventory of the stocks of raw gold supplied from warehouses to the jewellery section.
He claimed that the misappropriation was discovered when staff compared the stocked quantity of gold with the manufactured gold.
The defendant denied the charges and told the court that he was in charge of technical matters related to gold manufacturing, and had no connection with financial matters.
The department assigned a legal expert to examine the case. The expert conducted an in-depth study and held several meetings with the two parties. He examined the movement of raw gold stocks delivered to the company’s gold manufacturing section, which is supervised by the defendant, and the manufactured gold, to find out the difference and the defendant’s role.
The department then assigned a technical expert to determine the percentage of gold wasted during the manufacturing process. The expert determined that one kg of 18K gold is equivalent to 750 grams of pure gold (24K).
The court confirmed the invalidity of the alleged deficit and acquitted the defendant.