Six Pakistanis and two companies have been convicted by the Abu Dhabi Criminal Coury for money laundering and tax evasion cases.
The suspects were charged for the crime of money laundering by conducting suspicious banking transactions. The investigation showed that this was just an attempt to conceal money from illegal drug trafficking.
The court sentenced the suspects to ten years in jail each. They will be deported after serving their jail term. They will also have to pay a fine of Dhs10 million.
Two companies from electronics and advertising were also fined Dhs50 million each. The money from their money laundering scheme was also confiscated.
Authorities said the four of the suspects are all part of a gang who worked with drug traffickers inside and outside the country.
Those outside the gang will tell buyers of drugs on its location and they will send the money in one of the suspect’s bank accounts.
The suspects then transferred the money through money exchange companies to persons in Pakistan.
Authorities also discover that 2 million dirhams were discovered in the suspects’ residence.
Two million dirhams were found at the residence of the suspects.
At least 50 operations per day with transactions from Dhs500 and Dhs1,000 are being deposited to the first suspect’s account.
Funds deposited in and withdrawn from these accounts by the defendants were in batches and sent to people in Pakistan through different money exchanges in UAE. (TDT)
