Exceptional UK Court Judgment: “EY ordered to pay whistleblower $11m in Dubai gold audit case”

April 22, 2020

Last Friday, April 17, 2020, was an exceptional day for Amjad Rihan, whistleblowing advocacy, and the fight against corruption. Mr. Rihan spoke out to the Guardian on February 25, 2014, and stated clearly his findings.

February 25, 2014 “Amjad Rihan was made one of Ernst & Young’s youngest partners at 37, leading the firm’s sustainability services in the Middle East. As gold refiners around the world rushed to comply with new international standards designed to address the problem of conflict gold, top refiners in Dubai turned to Rihan to certify their efforts to source gold responsibly. But when Rihan’s team found evidence of suspect gold at Dubai’s largest refinery he was shocked that full details of the scandal might not be made public. He resigned from E&Y and is now speaking out” [note] The Guardian newspaper, February 25, 2014, read more on https://www.theguardian.com/business/video/2014/feb/25/ernst-young-whistleblower-conflict-gold-risks-video [/note]

February 28, 2014. Amjad Rihan at Newsnight.

January 23, 2018,

On April 17, 2020, ” The high court in London ruled on Friday that EY had repeatedly breached the code of ethics for professional accountants in its dealings with one of its clients, Kaloti Jewellery International. …..Mr. Justice Kerr found EY had breached its duty to Rihan through failing to perform the Kaloti audit in an ethical and professional manner. The court awarded Rihan a total of $10,843,941 and £117,950 in sterling for damages for past and future loss of earnings, and loss of employment benefits.” [note] the Guardian newspaper, April 17, 2020, https://www.theguardian.com/business/2020/apr/17/ey-ordered-pay-whistleblower-11m-dubai-gold-audit-case [/note]

“Al Jazeera’s Investigative Unit has obtained evidence that reveals how senior managers at EY tried to force Amjad Rihan to return to his job in Dubai, knowing that he feared for his safety. ” [note] Read more on https://www.aljazeera.com/news/2020/04/exclusive-audio-reveals-pressure-dubai-gold-whistle-blower-200418134421024.html [/note]

Conflict Gold

“In politically unstable areas, armed groups often use forced labour to mine minerals. They then sell those minerals to fund their activities, for example to buy weapons.” [note] European Commission, read more on https://ec.europa.eu/trade/policy/in-focus/conflict-minerals-regulation/ [/note].

Studies and research show that more than 50% of fraud and corruption cases are uncovered by tips. It takes courage, honesty, integrity, and patriotism to be a whistleblower. The American Anti-Corruption Institute (AACI) requests all stakeholders to provide all the legal and administrative procedures to help whistleblowers speak up. We are always thrilled when justice is served.