Dubai Court Sentences Gang, Fines 7 Companies in Dh32m Online Scam

Seven Companies and a group of 30 members have been arrested and found guilty of money laundering and stealing Dh32 million in an online scam targeting users and companies.

According to Dubai’s Money Laundering Court, the 30 members faced heavy sentences to a total of 96 years of imprisonment. After serving their sentence, they will be deported from the country. In addition, the court ordered the defendants to pay a fine of more than Dh32 million.

The court also ordered the seizing of computers and phones used in the theft. In addition, the seven companies involved in the case were collectively fined a total of Dh700,000. As part of the penalty, the court has the authority to seize funds or assets owned by the defendants in order to fulfill the fine.

Previously, the Public Prosecution transferred the case of 30 individuals and seven companies to the Dubai Courts. They were accused of engaging in money laundering activities and operating an online scam worth Dh32 million.

According to Counselor Ismail Madani, senior advocate-general and head of Public Funds Prosecution, the group committed the theft by sending 118,000 phishing emails to their targets. The criminals pretended to be banks and financial institutions that the victims were associated with, resulting in the acquisition of funds.

“These phishing emails requested the victims to transfer payments to the defendants' accounts. Later, the defendants cashed out the money or transferred it to other accounts, while other defendants purchased used cars to conceal the illicit source of the funds,” the official said.

Counselor Ismail Madani added that the UAE authorities are fully dedicated to combating money laundering, internet crimes, and scams that can have a potentially huge impact on the national economy.