Dubai Public Funds Prosecution convicts 8 defendants and 3 companies of money laundering crimes

The Dubai Public Prosecution referred eight defendants and three companies to the Misdemeanour Court for committing a money laundering crime in the amount of approximately 14 million dirhams from and to several bank accounts in a fraudulent manner and using information technology, with the intention of concealing and benefiting from its illegal sources. Years with deportation and the rest of the accused with imprisonment from six months to one year and deportation with a fine of 20,000 dirhams for the sixth and seventh defendants. Millions of dirhams for the victim company.

The arrest of the accused in the aforementioned incident and bringing them to justice comes in light of the effective procedures of the Dubai Public Prosecution and the strengthening of joint cooperation with all local and federal authorities with jurisdiction in the face of money laundering and terrorist financing. to them.

In detail, the First Public Prosecutor and Head of the Public Funds Prosecution, Counselor Ismail Ali Madani, revealed that the Dubai Misdemeanors Court convicted 8 defendants and 3 companies of committing the crime of money laundering with an amount of approximately 14 million dirhams, explaining that the first accused fraudulently seized the amount using a technology Information by penetrating the data and bank accounts of the victim’s company, and depositing the amount in the account of another company belonging to the first accused, as well as the participation of the rest of the accused to the first accused in the same money laundering crime by transferring and concealing the truth of the proceeds from the original crime.

He stressed that arresting the accused in the aforementioned crime and bringing them to justice is a reflection of the effective procedures of the Dubai Public Prosecution and the joint cooperation with all local and federal authorities concerned with cases and crimes against money laundering and terrorist financing.

Protecting the integrity of the financial system

For his part, the Executive Director of the Dubai Center for Economic Security, Faisal Yousef bin Sulaiten, stressed the important role played by the investigation authorities, represented by the Public Prosecution in Dubai, in addressing everyone who seeks to benefit from the development of the financial system in the country in actions that negatively affect its economic security. .

Expressing his appreciation for the professionalism of the law enforcement agencies represented by the Dubai Police General Command, which had the most prominent role in confronting this crime.

The Executive Director of the Dubai Center for Economic Security, Faisal Yousef bin Sulaiten, said the case reflects the strength of cooperation between all relevant federal and local authorities, as well as the country's commitment to maintaining the integrity of its financial and economic system, and limiting its exploitation in money laundering and terrorist financing crimes.

Case details

In turn, the Assistant Chief Prosecutor, and the direct person responsible for investigating the case, Abdul Rahman Nasser Hassan, said that the investigations of the Public Prosecution, through research and investigation in cooperation with the concerned authorities, that the victim company had been exposed to hacking its e-mail, which resulted in information leakage, as the first accused was able to access information Related to correspondence, bank account statements and the money transfer mechanism, and thus seized a large amount of the total amount of the original with the intention of concealing and disguising the illegal source of the total amount he had received in his company account, taking advantage of the bank account of the ninth accused with electronic banking services by making two money transfers to the bank account For the eleventh defendant, a company for trading safety and firefighting equipment, in which the fifth defendant manages the account of that company, and the second to the bank account of the tenth defendant, a textile trading company, and the second defendant manages the account of that company.

It is worth noting that the accused in the incident committed the crime of money laundering, which is punishable in the articles of the Federal Law and its amendments regarding combating money laundering and combating the financing of terrorism. Accordingly, the Public Prosecution took its order to refer the accused to the competent court, which issued a ruling convicting them of the crime attributed to them.

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