Dubai: Man jailed for money laundering, fined Dh14.76 million

Money was used to purchase real estate units, unique car number plates, and vehicles



by

Afkar Ali Ahmed

Published: Sun 16 Jan 2022, 3:20 PM

Last updated: Sun 16 Jan 2022, 3:22 PM

The Dubai Criminal Court sentenced a 53-year-old Arab man to three years in prison and a fine of Dh14.76 million for his involvement in money laundering.

The accused was found guilty of transferring, using, concealing the location and method of disposal of financial proceed.

The fine amount was used in the crime of appropriating public money by the government employee.

The money was used to purchase real estate units, unique car number plates, and vehicles with the intent to conceal their illegal source.

Dubai Public Prosecution continues to combat money laundering and related crimes in cooperation with law enforcement agencies and local and federal authorities.

Ismail Ali Madani, Senior Advocate General - Head of Public Funds Prosecution, said that the sentences for money laundering crimes included imprisonments for periods ranging from nine months to eight years, confiscations worth Dh306,000 and fines amounting to over Dh15 million.

Employees and top officials carried out all these crimes related to public money.

Ismail Ali Madani expressed his appreciation for the efforts of all law enforcement agencies in controlling such crimes.

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UAE puts these crimes under the microscope and spares no effort to track people involved because of its negative implications on the national economy and the interests of individuals and institutions.

The Public Funds Prosecution and law enforcement agencies have all the capabilities to confront and besiege, combat these crimes and eliminate them.


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