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by Mike Caswell

A family feud at Jubilee Gold Exploration Ltd. has landed in the Supreme Court of British Columbia, with the company suing its former chief executive officer, Jeffrey Becker, over physical gold and silver that had been held in a safety deposit box. Jubilee claims that Mr. Becker and his wife moved the gold and silver out of the box, and have not returned it. The company, which now has Mr. Becker's son Warren as CEO, is seeking a court order that would allow it to retrieve the gold.

The allegations are contained in a notice of claim that Jubilee filed at the Vancouver courthouse on Friday, April 12. The defendants are Jeffrey Becker and his wife, Patti (who is not the mother of his children). The lawsuit identifies Jeffrey Becker as a director of Jubilee and as its CEO until Aug. 7, 2023, when he was removed until a health assessment could be performed.

The case arises from four kilograms of gold bricks and 450 ounces of silver coins, worth $466,000, that Jubilee had stored in a safety deposit box in Abbotsford, B.C., at a branch of the Canadian Imperial Bank of Commerce. According to the suit, the box was initially set up so that Jeffrey Becker and Warren Becker had authority over it. The problem, as set out in the suit, arose in March, 2023, when Mrs. Becker, who had no role with Jubilee, "improperly influenced" Jeffrey Becker to remove Warren Becker's authority and add her as an authority to the box. Jubilee claims that Mrs. Becker then closed the box and the gold bricks and silver coins were moved to a new box at the same CIBC branch.

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