The Abu Dhabi Federal Criminal Appeal Court convicted an Arab national, who was sentenced to ten years in jail and will be deported upon completion of his term.
The Court also found the defendant’s two firms guilty of sanctions evasion, forgery, and money laundering.
Each business was fined AED500,000, and the funds of both companies, totaling AED39 million, were confiscated from seized bank accounts, and both companies were closed down.
The sentence is the outcome of extensive collaboration on the case between the UAE’s law enforcement authorities, the Central Bank, and the Financial Intelligence Unit.
The UAE is determined to dismantle organized crime in all of its manifestations in order to defend the UAE and the worldwide financial system.
