The Money Laundering Court at the Dubai Courts has convicted a 30-member gang and seven companies for laundering money and embezzling AED32 million ($8.7 million) in an online scam targeting individuals and companies. The gang members received a combined total of 96 years in prison and will be deported after serving their sentences.
The court also imposed a joint fine of over AED32 million and ordered the confiscation of the computers and phones used in the crime.
The seven companies involved in the case were fined a total of AED700,000. Additionally, the court has the authority to seize funds or assets belonging to the defendants to cover the fine.
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Earlier, the Dubai Public Prosecution has referred 30 individuals and seven companies to the Money Laundering Court at the Dubai Courts for their involvement in a money laundering and online scam worth AED32 million.
According to Counselor Ismail Madani, the Senior Advocate General and Head of Public Funds Prosecution, the gang obtained AED32 million by sending 118,000 phishing emails to victims, pretending to be banks and financial institutions with whom the victims had business relationships. The emails instructed victims to transfer payments to the defendants’ accounts, which they then cashed out or transferred to other accounts. Some defendants used the funds to purchase used cars to conceal the source of the money.
Madani emphasized that UAE authorities are dedicated to fighting money laundering, online crimes, and scams that can harm the national economy. He praised the collaborative efforts of various entities in addressing such crimes and upholding the rule of law, stating that no effort is spared in combatting these criminal activities.
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