A court order for the freezing of all the assets of well-known jeweller George Tabone, currently facing criminal action over alleged receipt of stolen valuables, will stand until proceedings reached their conclusion at appeal stage.

The decision was taken after a constitutional application filed by Mr Tabone, as owner of Gram Holdings, Gram Jewellers and Gram Collections, who has been facing criminal proceedings since 2013.

He was charged with having received valuables from a Valletta store haul in 2011, when around €500,000 in gold and other jewellery were stolen.

Mr Tabone was acquitted by a Magistrates’ Court in 2015, but the judgment was appealed by the Attorney General.

READ: Jeweller George Tabone cleared of handling stolen property

Mr Tabone pleaded that the court's decision was causing him financial problems, forcing his family to live in dire straits and making it impossible for him to honour advertising bills and bank commitments.

But Mr Justice Silvio Meli, presiding the First Hall, Civil Court, upheld the argument of the Attorney General, who insisted that since criminal proceedings against Mr Tabone were not yet exhausted, the freezing order was to stand.

Such an order was not meant to create hardship for the accused but was justified in the general interest, the court concluded.