Abu Dhabi Court convicts 13 defendants and 7 companies of “money laundering” crimes


Abu Dhabi Court, 13 Indians and seven companies owned by them were convicted of the crime of money laundering in Abu Dhabi, and they were sentenced to prison, fines, confiscation of seized funds, and deportation of the convicts after serving the sentence.

The crime is related to providing credit facilities through points of sale without a license from the competent authorities, making a travel institution a headquarters for the exercise of their criminal activity, and making fictitious purchases from the devices of companies established for this purpose, and some of the defendants exploited the powers granted to them to deal with bank accounts of companies owned by others without knowledge. owners, in return for deducting a percentage in favor of the owner company.

Investigations have shown that the criminal formation of the travel agency headquarters owned by two of the defendants was exploited to make cash payments from credit cards to customers, by spending the amount in cash by making a purchase from the customer’s credit card in favor of companies that were established only to issue these devices, and then Make a fake purchase and deduct the interest amount.

Financial reports and bank transactions showed a high inflation of funds in the bank accounts of the defendants and their companies during a short period without knowing its source, which prompted the Public Prosecution to open an investigation into this crime.

Money laundering is a serious crime used by gangs and criminals to hide the sources of funds that they obtained illegally. This is done by transferring funds to other accounts and purchasing other assets, with the aim of concealing the origin of these funds and making them appear as if they are from legitimate sources.

This crime is considered one of the most important economic risks that threaten the financial and economic stability of countries, and negatively affects societies. It also supports other criminal activities such as tax evasion, financing terrorism, and smuggling of weapons and drugs.

Therefore, states and international bodies are working to combat this crime and adopt multiple strategies to limit and eliminate its spread, including strengthening international cooperation, improving financial and banking monitoring, and tightening laws and penalties for those involved in these crimes.

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