Suspended for theft at work

[pasonsnose]

I have recently been suspended due to suspected theft at work. 4 years ago I purchased some items as 'scrap' and have subsequently sold them. During the investigation the company cannot find any evidence that these items were purchased as they have a strict cash purchase policy which is supposed to be waterproof.
I don't have a receipt which I would have been supplied with so cannot prove my innocence, the best evidence I have, is from the manager in charge of the scrap sales who has since retired who remembers the items in question and has given me a written statement saying he signed off these items and remembers me purchasing some of them along with other employees.
As the company cannot find a record of this, they are accusing me of theft (it would have been a nominal fee and most of the items were thrown away) but it looks like I could be facing dismissal over this.
My question is, how likely is the company able to proceed with disciplinary proceedings when they have evidence of no records, yet evidence from a manager to say these items were deemed as scrap and as far as he remembers, sold as such?
Many thanks

[woofgang]

It was the word "theft" mentioned that made me say "legal" In the NHS theft or fraud, no matter how small are always considered as though the matter will go to court then the local NHS fraud specialist makes a decision about whether or not to pursue prosecution.

[pasonsnose]

Yes, they are investigating 'theft' - I'm sure there's not enough 'evidence' to go to court but I'm afraid the company will attempt dismissal because it's a bit embarrassing for them as these items probably should have been destroyed rather than get onto the market.
Yes it's possible that they could have been simply taken without payment, they weren't locked away, infact most of them went in the rubbish bin after people took what they wanted.
By any reasonable assessment, there would be very little of a case to answer, but I'm concerned this will be used by wannabe Perry Masons to sharpen their teeth within the company

[buildersmate]

Well, I've explained the process the employer has to go through - and the accusation may be theft of company property, but this is not the same as the Crown Prosecution Service deciding to charge an individual with theft (a criminal act).
This is a disciplinary issue and to decide to dismiss you (with notice) fairly under the Employment legislation the employer must satisfy itself that a severe case of misconduct has occurred that warrants this action (or run the risk that the employee takes the case up at ET).

[pasonsnose]

I suspect they will try to dismiss me for Gross Misconduct of theft without notice.
In their eyes, their system is foolproof and if the item isn't listed then it was stolen - no excuses - that's the hard line they seem to be sticking to. There are other possibilities such as, the paperwork was lost, fraud within security, the items were bought in someone elses name etc. but nobody can remember the details anyway.
The union have assured this will be taken up with the ET if it goes to dismissal but I don't know what the chances are or what their decision will be assuming there is no evidence other than 'yes these items were sold as scrap to someone but nobody has records of a sale'
Many thanks for all the advice, it's much appreciated!