UAE Participates in Landmark Multinational Cooperation Money Laundering Case
Arab News, 7 August 2021: UAE law enforcement agencies have participated in a landmark multinational cooperation money laundering case.
The case involved six individuals who were being tried by a federal grand jury in Los Angeles.
They are accused of defrauding a Qatari school founder and laundering the proceeds through banks around the world.
They are accused of faked the financing of a Qatari school by playing the roles of bank officials and creating a bogus website as well as bribing a foreign official to keep the scheme going.
Under the US Penal Code, both conspiracy counts carry a statutory maximum sentence of 20 years in jail. Aggravated identity theft carries a mandatory two-year jail term.
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