The Abu Dhabi Criminal Court, which is competent to look into money laundering and tax evasion crimes, convicted 9 defendants and 6 companies of the crime of seizing sums of money amounting to 18 million dirhams, using fraudulent means using an information technology means, that one of the accused from outside the country communicated with the victims, claiming His work for foreign investment companies specialized in trading digital currencies, and he deceived them to achieve profitable returns, and asked them to transfer their money to the accounts of companies within the country to make them believe in the validity of his allegations, in addition to committing the crime of money laundering through an organized criminal group, by transferring and concealing the truth of the proceeds from the original crime and possessing The funds were used when they received them through internal bank transfers, deposited them in their bank accounts and then transferred them between the accounts of their companies and transferred the bulk of them outside the state, with the intention of concealing and disguising the truth and source of those illegal funds.
The court ruled in the presence of four defendants of different nationalities, and the rest in absentia, to imprisonment for ten years and a fine of ten million dirhams each, and deportation from the state after the execution of the penalty, except for the second defendant, and also sentenced the companies to a fine of fifty million dirhams each, with the confiscation of funds. The subject of the money laundering crime, whether liquid in the accounts of the accused, or any of the material or moral assets owned by them derived from or resulting from the money laundering crime, as well as confiscation of proceeds and means used in the crime in any way.
Arresting the incident and the accused and bringing them to justice, in light of the effective measures taken by the various concerned authorities, comes within the integrated efforts of the UAE in combating money laundering crimes, and taking all measures to confront it by the UAE Central Bank and financial institutions, in addition to the strength of the legislation and laws in force on these crimes.
The facts of the case are that a number of the victims were subjected to a fraudulent process by the accused, who deceived them to invest in a fake company, claiming that it is specialized in trading digital currencies and stocks in the global markets, and tempted them to make quick profits and achieve profits of up to 30% within one week, and urged them periodically. I have to raise the ceiling of the fictitious investment in order to increase the profits, for which it was stipulated that a tax amount be transferred for it, which raised suspicions among one of the victims, and he took the initiative to inform the competent authorities.
For its part, the Public Prosecution in Abu Dhabi began investigations into the case, which showed, through research and investigation through the relevant authorities, the existence of a criminal organization aimed at seizing the funds of victims of fraud and fraud, and an attempt to conceal its truth through mutual bank transfers between them, as it was found by tracking the movement of Funds in corporate accounts Suspicion of banking operations, due to the rapid movement of funds without economic justification or any supporting documents, which is an indication of the commission of money laundering crimes, for the Public Prosecution to take its measures by seizing the accounts of the accused and referring them to the competent court, which issued its judgment convicting them of the alleged crimes to them.