UAE takes action against gang of 15 for tax fraud, money laundering

Dr. Hamad Saif Al Shamsi, the Attorney-General of the UAE, has ordered the referral of 15 individuals to criminal court.

Some of the defendants are in custody, while others remain fugitives with arrest warrants issued against them.

The indictment also includes 12 companies accused of forgery, money laundering and tax evasion.

According to investigations by the Federal Prosecution for Tax Evasion Crimes, under the Attorney-General’s direct supervision, the defendants, of various Arab nationalities, formed a criminal gang involved in fraud.

They forged official documents from the Ministry of Economy, chambers of commerce, customs authorities, and other entities.

These fake documents enabled them to unlawfully claim VAT refunds on fictitious goods, which they falsely reported as purchased, paid VAT on, and exported using shell companies set up for the scheme.

In addition, the group misappropriated VAT on imports, money that was meant to be paid to the Federal Tax Authority.

The total amount misappropriated exceeds AED 107 million. The defendants are also accused of laundering the illicit proceeds to conceal their source.

UAE Attorney-General refers 15 defendants in tax fraud cases to criminal court#WamNews https://t.co/ZYrnEwf15b pic.twitter.com/BKDoaSW3eq

— WAM English (@WAMNEWS_ENG) December 6, 2024