SAUDI ARABIA

Gold shop owner faces probe over fraudulent promotion

December 09, 2018



Officials from the Ministry of Commerce and Investment during the inspection raid on the gold and jewelry shop in Riyadh.
Officials from the Ministry of Commerce and Investment during the inspection raid on the gold and jewelry shop in Riyadh.

Saudi Gazette report

RIYADH
— The Ministry of Commerce and Investment has taken legal action against a gold and jewelry shop in Riyadh after it announced misleading discount offers through the social networking sites.

On its Twitter and Instagram, the shop claimed that its prices were the cheapest in the Kingdom.

Considering the unreasonable offers to be a delusion and an attempt to deceive the consumers, inspection teams from the ministry started monitoring the shop.

Upon raiding the shop, the inspectors found 3,144 pieces of jewelry that did not bear the trademarks of the importer or the factory where they were made.

The shop even could not produce documents to prove the source of origin. The inspectors seized number of such pieces and sent them for analysis by the concerned laboratory.

The ministry summoned the owner of the shop for further investigations, after which the case will be referred to the Public Prosecution.

Once the suspicions were confirmed by the investigators, the prosecution will refer the case to the settlement committee in charge of precious metals and gem stones for taking legal measures against the violator in accordance with the provisions of the Precious Metals and Gem Stones Law and its executive regulations.

The ministry reaffirmed its determination to continue monitoring all precious metals and gem stone shops to verify the regularity of their work and their commitment to relevant rules and regulations.


December 09, 2018
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