UAE: 15 charged in multi-million dirham tax evasion and money laundering case
The accused are involved in a complex criminal operation with 12 companies
Dubai: A total of 15 individuals, including several fugitives and some currently in custody, have been referred to trial on charges of money laundering, tax evasion, and document forgery. The accused, who are of various Arab nationalities, are implicated in a sophisticated criminal operation involving 12 companies.
According to Dr. Hamad Saif Al Shamsi, UAE Attorney General, the individuals are accused of forging official documents, including those from the Ministry of Economy, the Chamber of Commerce, and the Customs Department. They allegedly used these falsified documents to claim undue tax refunds for fictitious goods, which they falsely reported as purchased, taxed, and exported.
The investigation, which was directly overseen by Al Shamsi, revealed that the suspects established companies specifically designed to carry out this fraudulent scheme. They unlawfully seized VAT refunds on imports, diverting funds meant for the Federal Tax Authority.
The total amount stolen by the accused is estimated to exceed Dh107 million, and authorities have uncovered efforts to launder these illicit gains. The suspects now face serious charges as they await trial.