13 Indians found guilty of money laundering, tax evasion in UAE

Dubai, May 26 (IANS): Thirteen Indian nationals, including seven companies owned by them, have been convicted of money laundering and tax evasion by the Abu Dhabi Criminal Court, a media report said.

The court found them guilty of laundering Dh510 million involving unlicensed provision of credit facilities through points of sale (POS), the Khaleej Times reported last week.

Four of the Indians were sentenced to jail terms ranging from five to 10 years, followed by deportation, and the court ordered them to pay fines ranging from Dh5 million to Dh10 million.

The seven companies involved in the crime were each fined Dh10 million.

According to investigations, the Indians had set up a "criminal organisation" and used the headquarters of a travel agency to carry out unlicensed economic activities through which they had reportedly gained over half a billion dirhams.

They would pay customers in cash and then use their credit cards to make fake purchases through their companies' POS, the Khaleej Times reported.

In some cases, they would also assist customers settle credit card debts by depositing cash into their accounts, making another fraudulent POS transaction, and then deducting an interest amount.

According to bank transaction reports and financial analysis statements issued by the Financial Information Unit (FIU), an unusually high volume of cash flow into and out of the bank accounts of the defendants and their companies was noticed in a short period of time.

In December last year, six companies were fined Dh3.2 million for breaching anti-money laundering laws.



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Comment on this article

  • mohan prabhu, mangalore/canada

    Sun, May 28 2023

    In deference to India's "gujju" PM, names of the Indians - likely to be gujjus - who have been sentenced to jail terms, and their companies, have been withheld by the press. If they had done this corrupt practice of swindling, and resided in Iran, they would have been hanged.

    DisAgree [1] Agree [7] Reply Report Abuse

  • Shammi, Karnataka

    Sat, May 27 2023

    I bet my guess is correct who these people are !!! They are best at it.I know one motabhai in dubai doing gadget business.Gives phones and tablets,laptops etc on discount and doesn’t give us the bill. When he said I can give good discount but i cant give bill. Im also not less I m also eating ,pathrode,idli sambhar with timare chutney.Who will repair my gadget if no bill ,what if he turn back. These gujjus I tell you. Highest travel agency company either run by them or andhra people. Im not being racistic ,but this is fact in uae corporate world.

    DisAgree [2] Agree [13] Reply Report Abuse

  • Rita, Germany

    Fri, May 26 2023

    I can guess more or less who was here on work.Now in future UAE will never believe us Indians for any honest work or even may not allow to work.Guys ,you have done very good work ?Simply cover your face with black ash and hang yourself.Our nations name is gone for ever.Money ,what is happened where money is gone ?SHAME ON YOU.

    DisAgree Agree [20] Reply Report Abuse

  • Vinod Kumar, Mangalore

    Fri, May 26 2023

    After Modi surnamed financial fugitives now it’s Shahs turn. Many financial fugitives are arrested in Dubai with Shah surnames. Next will be……….

    DisAgree [5] Agree [20] Reply Report Abuse

  • Charles D'Mello, Pangala

    Fri, May 26 2023

    5% VAT bachane ke liye Business ka waat laga diya,,,,,,!!!!!!

    DisAgree [2] Agree [21] Reply Report Abuse

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