A security worker who stole a rare Dh73 million diamond from a company vault in Dubai has been jailed.
The precious stone was recovered in Sri Lanka after the 37-year-old diamond thief's accomplice, who remains at large, smuggled it out of the UAE in a shoe.
The two men, both from Sri Lanka, were given five years behind bars at Dubai Criminal Court, the smuggler being sentenced in his absence.
A third defendant, aged 38, also from Sri Lanka, was sentenced to three months in prison for sheltering the security guard while he was wanted by police.
A senior employee, tasked with keeping hold of the blue diamond, was handing over his responsibilities after his resignation when he uncovered the theft.
He discovered that the bag where the diamond was kept had been ripped and its box had been switched by the defendant during the theft on May 25.
Investigations revealed the serial number on the box did not match the one in which the diamond was kept.
“The entire box was taken and replaced with another one that carries a different serial number,” said the Jordanian man, 37, who had tendered his resignation from the company.
"the orange bag where we kept the diamond inside that box, was the same, but the diamond was not in it."
Police were notified and, after combing through CCTV footage, they were able to pinpoint the Sri Lankan offender who was seen wearing a heavy jacket in the footage - despite the room not having air-conditioning and it being a hot day.
The defendant had access to the code for the vault and the box, and he had removed the diamond then hid it under his heavy jacket before giving it to a relative.
His relative, who is at large, smuggled it out of the country inside a shoe the same day.
On May 28, the guilty party was asked by the company to attend a meeting concerning the missing diamond but he did not turn up and went into hiding with the help of the 38-year-old compatriot.
He was tracked down in Sharjah within a matter of days and admitted the crime during police questioning, telling officers he had plotted the theft days in advance.
He admitted theft in court while the man who harboured him denied knowing that he had carried out the crime.
"He told me that he was in trouble related to bounced cheques," said the co-accused to judges.
Dubai Criminal court ordered the men’s deportation following the completion of their prison sentences.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.