MUSCAT: Sweets of Oman has filed a criminal case against five of its employees including General Manager, Finance Manager, Assistant Finance Manager, Purchasing Manager and Information Technology Manager for their involvement in misrepresenting the company’s financial statements for three years.

In a disclosure to Muscat Stock Exchange, the company said “the employees have been suspended from work because the Board of Directors discovered misstatement in the financial statements and dismissed them.”

According to Oman Sweets Company, the case is now with the Economic Crimes Section Department of Information Technology.

“As per the reports of the auditors — Price Waterhouse Coppers – the misstatements occurred in the financial statements for the years 2017-2018-2019- and till 30 June 2020 the 2nd quarter of the financial year ended on 31st December 2020,” the company said.

“The Company with the approval of the government, appointed a specialized auditing company to verify any other frauds and the company shall receive the report in the near future,” the statement said.

In the disclosure, Sweets of Oman said the misstatement “incurred huge financial loss as shown in the financial statements which were disclosed previously in this regard. As such the business of the company is duly affected as a result of these financial losses incurred by the company.”