Dr. Hamad Saif Al Shamsi, the Attorney-General of the UAE, has ordered the criminal trial of 15 individuals from different Arab nationalities. Some of these individuals are already in custody, while others are fugitives with arrest warrants issued against them.
The case also involves 12 companies accused of forgery, money laundering, and tax evasion.
Key Details of the Case
The Federal Prosecution for Tax Evasion Crimes conducted a detailed investigation under the supervision of the Attorney-General. The findings revealed that the defendants were part of a criminal gang involved in fraudulent activities.
They falsified official documents from entities such as the Ministry of Economy, chambers of commerce, and customs authorities. These forged documents allowed them to falsely claim refunds for value-added tax (VAT) on non-existent goods. The accused falsely declared that these goods were purchased, VAT was paid, and the goods were exported using companies created for their illegal activities.
The investigation also showed that the defendants misappropriated VAT amounts collected on imports, which were supposed to be remitted to the Federal Tax Authority.
Fraud Amount and Money Laundering
The total misappropriated funds exceeded Dh107 million. To hide the source of these illicit funds, the defendants engaged in money laundering, disguising and concealing their illegal gains.
