Embezzlement of over OMR 200,000 disclosed in Oman

Muscat: Dhofar Cattle Feed has disclosed embezzlement estimated at OMR 245,000 by some of its workers.

Muscat Securities Market (MSM) said in a statement: "Dhofar Cattle Feed would like to inform you that during the reviewing of the quantities of expired and damaged products from the finished products, they found irregularities which when scrutinised revealed that some employees of the company had have committed fraud to the extent of approximately OMR 245,000, which is the value of spoiled and expired products."

"The company has improved its computer systems, processes and brought in additional measures of internal control. The company is in process of filing a case in the court with the help of an independent legal accountant and the company lawyer," the MSM added.