iPhone | iPad
Android
Huawei
Nearly 6,000 volunteers linked to a single support group are working tirelessly across the country to help those affected
KT APPDOWNLOAD
Dubai: 12 gang members jailed over Dh185-million money laundering scheme
The main convict, with the help of others, was found to have established companies in several countries
File photo
Twelve members of a gang were jailed in Dubai after they were found guilty of carrying out a Dh185-million money laundering scheme.
The Dubai Criminal Court sentenced four of them to three-year imprisonment while eight will serve a year in jail. Two other members were fined Dh20,000 each, and four were acquitted.
The gang siphoned off the huge sum of money from an Arab lawyer’s office, duping him and several clients in an elaborate modus operandi that ran from 2014 to 2020. Some gang members worked within the intellectual property department of the firm.
The main convict, with the help of others, was found to have established companies in several countries, telling clients that they were “branches” of the law firm. Court records show that the gang was able to issue invoices, receive fees and even print receipts for the unsuspecting clients.
Through this scheme, the gang received millions of dirhams in client payments and managed to transfer them to bank accounts of several people in various countries.
Three members of the gang were able to send millions of dirhams through exchange companies, exceeding the permissible limit, and thus violating the law, court records show.
ALSO READ:
One member had set up several bank accounts in his home country, and three of the convicts were able to transfer $6 million to one of these accounts, and $2 million to another account.
The court ordered the confiscation of all the convicts’ money and assets, and the three shell companies they founded were fined Dh500,000.
More news from
Real estate developer MAG pledges to cover all the costs of necessary repairs for affected residents
The substantial increase in charges left many residents financially burdened, as they strive to retrieve their stranded vehicles
While parents acknowledge the importance of safety as a result of inclement weather, they also expressed disquiet about extended holidays
World number one Swiatek extended her run at the tournament to 10-0 as she brushed aside Briton Raducanu
The incident happened shortly after jury selection for the hush-money trial was completed
MS Dhoni's cameo in vain as five-time champions dealt thrid loss but hold on to third place in the standings
Roads and Transport Authority has been working round the clock to carry out maintenance work
