Abu Dhabi (Al-Ittihad) – The Abu Dhabi Criminal Court, which is competent to look into money laundering and tax evasion crimes, has convicted an organized criminal group consisting of 79 people of multiple nationalities, which specialized in committing fraud crimes via the information network using fake addresses for a website for trading shares in the stock exchange in the State of China. And deluding the dealers to invest in buying those shares against the truth, with the aim of seizing sums of money, in addition to committing a money laundering crime with the intention of concealing the source of those collected sums. The court ruled, in presence and in absentia, against 66 defendants and 13 defendants in the criminal organization, which included 72 defendants of Chinese nationality, and a Jordanian, Nigerian, Cameroonian, Ugandan and Kenyan defendant, by punishing them with imprisonment for periods ranging from 3 to 15 years with deportation from the state after carrying out the penalty, and a fine ranging from 3 to 15 years in prison. From 200 thousand to 10 million dirhams for each accused, with the confiscation of all the seized funds in the possession of the accused, as well as the confiscation of liquid funds in their accounts, real estate, cars, computers, mobile phones, watches and jewelry. The details of the case are summarized in the participation of the accused with an unknown person by agreeing to deceive the protocol address of the information network of one of the websites for trading shares in the stock exchange in the State of China, using a fictitious address belonging to others with the intention of committing the crime of defrauding the victims of the dealers via the website to invest in buying Shares contrary to the truth, by using one of the means of information technology, and thus seizing the sums of money, in addition to committing the crime of money laundering to conceal and disguise the truth and source of those proceeds by illegal methods.
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