[ad_1]
Both companies were also fined Dh500,000 each and closed permanently
The Federal Court of Criminal Appeal in Abu Dhabi has sentenced an Arab national to 10 years in prison and deportation after serving his sentence.
The court also sentenced two companies owned by the defendants on charges of evasion of sanctions, counterfeiting and money laundering. Each company will be fined Dh500,000, in addition, funds from both companies (a total of Dh39 million) have been confiscated from seized bank accounts. Both companies were subsequently shut down.
The verdict is the result of intensive cooperation between UAE law enforcement, the Central Bank and the Financial Intelligence Unit. The UAE is determined to combat all forms of organised crime in order to protect the country and preserve the integrity of the international financial system.
[ad_2]
Source link
