“Abu Sabah” funded money laundering operations inside an apartment and hidden them in digital currencies

The Dubai Court of Appeal ruled to raise the value of the financial fine against an Indian businessman known as “Abu Sabah” accused of money laundering crimes and other charges with a gang that includes his relatives and other people to 150 million dirhams. For other accused.

The reasons for the ruling revealed the details of the crimes committed by the defendants, and the role of “Abu Sabah” who funded criminal operations, washed them inside an apartment allocated for this purpose, and received the funds obtained from crimes committed in a European country that included drug trafficking, tax evasion and fraud, and hidden them away from the official road in banks and banks in the country, by pumping them in “Bitcoin”.

The Criminal Court had sentenced Abu Sabah and other accused, including his son, with 5 years in prison, a fine of 500,000 dirhams and the deportation from the state, as well as the confiscation of 150 million dirhams obtained from the crimes committed, computers, phones and other holdings after being convicted of the crime of money laundering through an organized criminal group. The list of the defendants included the well -known businessman, in addition to legal individuals and personalities, “companies”, accused of establishing and operating a money laundering network through fake companies and suspicious banking transfers, and they were seized after extensive investigations that included financial data and commercial partnerships with entities inside and outside the country.

The preliminary ruling did not encounter an acceptance from the Public Prosecution, and it stabbed it before the Court of Appeal, and he called him a violation of the law and the error in its implementation, when he ruled to confiscate the funds owned by all of the defendants at 150 million dirhams, while the constant in the papers is that the value of the funds is 180 million dirhams, as well as the primary ruling to judge the confiscation of the funds while the court had to fined the accused of the accused of that amount of solidarity Between them, instead of making up the confiscation of funds.

The Public Prosecution requested the cancellation of the license of the accused companies in the case, preventing them from exercising their activity, canceling their licenses, restrictions and registration. In turn, Abu Sabah and his family members stabbed the accused and the rest of the convicts in the lawsuit against the preliminary ruling, and his lawyer presented a memorandum in which he paid the absence of the pillars of the crimes attributed to him, which is the felony of money laundering, and possessing them in circumstances that bear the belief in its legitimacy, the invalidity of the recognition attributed to him, and other defenses by the Court of Appeal.

After looking at the appeals of the Public Prosecution and the appeals of the convicts in the preliminary ruling, the Court of Appeal clarified in its reasons that the appealed judgment had surrounded the incident with the availability of the legal pillars, and reported that it was proven against them, listed evidence, derived from the recognition of the first suspect, “Abu Sabah” and the rest of the accused.

She concluded that they went to the illegal gain, so they were a neurotic formation to wash money out of drug trafficking, tax evasion and fraud that were committed outside the state, in one of the European countries, and it was not possible to deposit these funds in its banks or banks as they are from the proceeds With an apartment renting to be managed by these crimes.

The investigations of the Public Prosecution revealed that the first defendant, the head of funds for funds in Finder Singhi Sahni and his fame “Abu Sabah” by providing financial liquidity according to the agreed to start work, withdrew twenty million dirhams from the accounts of his existing companies in the country, and deposited it with a treasury inside that apartment in exchange for obtaining 4% of that money that is washed, and the defendants took a hidden path and hidden it away from the official road In the country, they found their misfortune in the digital currencies «Bitcoin» to take it as a way to transfer that illegal money from that European country to the Emirates, illegally, so they established five digital portfolios in the name of the first accused, to be supervised and managed by his sons, and his son -in -law.

In the reasons for its ruling, the court clarified that the money that the accused worked to wash, obtained from trafficking crimes in narcotic substances, and the damaged evasion, according to what the accused decided, and arranged to obtain it in the currency of that state from the perpetrators of those crimes there by 6% less than its real value. The defendants in their illegal actions were able to wash the amount of 150 million dirhams, which is the amount that the court is certain of according to the report and the testimony of the financial analyst.

The Court of Appeal responded to the appeals of the defendants in detail, confirming its reassurance to the evidence of evidence, and that the incident has been clarified in its certainty, nor does it rest assured of the denial of the accused, in which you see only a means of defense to escape punishment. Regarding the appeal of the Public Prosecution regarding the amount of sources, and being 180 million dirhams, the court replied that the testimony of the financial analyst and the proven confessions of those accused of the Public Prosecution’s investigations that the amounts that were brought from abroad are equivalent to 150 million dirhams, which is the amount that you reassure. The Court of Appeal responded to the request of the Public Prosecution to add solidarity to the accused among them in relation to the fine to them, to be 150 million dirhams the value of the money subject to the crime.

The Dubai Court of Appeal ruled in the presence of the first accused, “Abu Sabah” and a number of those accused of canceling the preliminary ruling to confiscate the funds of the crime, and ruled to fined the defendants of solidarity among themselves the value of the money in the crime, 150 million dirhams, and to confiscate the seized electronic papers, phones and devices, and support the appealed judgment other than that.