Abu Dhabi seizes Dhs39m, shuts down two firms for forgery
- 24 Oct 2022
The Abu Dhabi Federal Criminal Appeal Court convicted an Arab national who was sentenced to 10 years imprisonment and deportation upon sentence completion.
The Court also convicted the two companies owned by the defendant on charges of sanctions evasion, forgery, and money laundering. Each company was subject to a fine of Dhs500,000, in addition to confiscating the funds of both companies, amounting to Dhs39 million, from seized bank accounts, and both companies were closed down.
The sentencing results from in-depth cooperation between the UAE’s law enforcement authorities, the Central bank and the Financial Intelligence Unit on the case. The UAE is determined to disrupt organised crime in all its forms to protect the UAE and uphold the integrity of the international financial system.
WAM
