UAE Participates in Landmark Multinational Cooperation Money Laundering Case

UAE Participates in Landmark Multinational Cooperation Money Laundering Case News developments

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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Marlé Van Sandwyk