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Merge 104.8 | 30 August 2020
The Dhofar Cattle Feed Company, operating out of A’Sanabil, has issued a statement to the Muscat Securities Market disclosing that it has been defrauded out of OMR 245,000.
As Merge 104.8’s sister station Al Wisal reports, the company identified in its statement that the fraudulent activity was undertaken by employees within the company.
In its statement, the Dhofar Cattle Feed Company clarified that it has augmented its internal processes and implemented additional control measures, saying that “We are in the process of filing a court case with the assistance of an independent legal accountant consultant and the company lawyer.”
The company further stated that in light of its immediate investigation, the fraud was reported after irregularities were discovered during its review of quantities of damaged or expired products from the total stock of finished products.
As per the statement, the company said that this review “revealed that some company employees had committed fraud to the extent of OMR 245,000, which is the value of the spoiled/expired products.”
Source: Al Wisal
