The photo has been used for illustrative purposes.
Gulf Today, Staff Reporter
The Abu Dhabi Criminal Court, which has jurisdiction over crimes of money laundering and tax evasion, has convicted an organised criminal group consisting of 79 people from different nationalities.
The group was specialised in internet fraud by using fake URLs (Uniform Resource Locators) of a Chinese website offering securities brokerage and trading services, and using deception to induce their victims to invest in securities with the aim of appropriating the value of their investment.
The court also announced fines ranging from Dhs200,000 to Dhs10,000,000 for each accused, with confiscation of all funds seized from the accused, as well as confiscation of their bank balances, real estate, cars, computers, mobile phones, watches and jewellery.
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In addition to committing the crime of money laundering in order to conceal the source of the sums received.
The court ruled, in presence, against 66 defendants and, in absentia, against 13 others who were part of the same criminal enterprise, which included 72 Chinese nationals, 1 Jordanian, 2 Nigerians, 2 Cameroonians, 1 Ugandan and 1 Kenyan, sentencing them to prison terms ranging from 3 to 15 years with deportation from the country after serving their respective sentences.
With regard to the details of the case, the accused individuals were involved in association with another unknown accused person in tampering with the internet protocols of a China-based website specialised in securities trading, using a fictitious address belonging to others with the intention of defrauding the victims who were lured into investing in securities, and thus appropriating their funds, facts which were followed by the commission of money laundering crimes in order to conceal the truth about the source of these proceeds.
The Ministry called on the companies practicing such activities to enhance their awareness and knowledge on the risks of money laundering and keep pace with the government's efforts in this regard.
25 people belonging to three separate gangs were arrested in Ajman while four other gangsters belonging to a fourth gang were arrested in Dubai.
The details of the case refer to the filing of a lawsuit in which a man demanded another obligation to pay him Dhs35,000 with legal interest, and his compensation for the damages incurred by him in the amount of Dhs10,000 in addition to the fees and expenses and in exchange for the attorneys' fees.
The total resident population is up 34.2 per cent since 2010 — an increase of 8.2 million people, of whom 4.8 million are Saudi nationals. Among Saudis, 63 per cent of the population is below the age of 30.
In the first quarter of 2023, the Ministry of Economy imposed fines worth Dhs65.9 million on 137 companies operating in the UAE’s designated non-financial business or professions (DNFBP) sector.
"These provocative and dangerous maneuvers are a source of problems for maritime security," said Mao Ning, a spokesman for the Chinese Foreign Ministry, stressing that "the United States must immediately stop these dangerous provocations."