The Dubai Civil Court of First Instance has ordered several individuals and companies to jointly repay Dh3.903 million to two maritime trading firms, following their conviction in a final criminal ruling for fraud and money laundering linked to a sophisticated cybercrime scheme.
The court also upheld a precautionary seizure of the defendants’ assets, citing the gravity of the offences and the risk that the funds could be dissipated.
Court records showed that the defendants were part of an organized criminal group that impersonated a legitimate maritime shipping company. Using a forged email address that closely resembled the firm’s official correspondence, the group deceived the victim companies into believing that the bank account for settling outstanding commercial payments had been changed.
As a result, about Dh3.9 million was transferred from the victims’ accounts in a European country to a foreign bank account, before being funneled into accounts of companies owned by the defendants in the UAE in an effort to conceal the origin and nature of the funds.
In its final ruling, the court found that the defendants committed money laundering by channeling proceeds of an international cyber fraud through multiple banking transactions, demonstrating prior planning and detailed knowledge of financial systems. Individual defendants were sentenced to imprisonment, fines, and deportation, while the corporate entities were fined and the illicit funds confiscated.
Based on the binding criminal judgment, the civil court ruled that the defendants were liable for the full material loss suffered by the victims, equivalent to the amount misappropriated and the loss of its use or investment.
The court also awarded legal interest of 5 percent, to be computed from the date the ruling becomes final until full payment, and ordered the defendants to shoulder court fees and costs.
