UAE charges 15 individuals, 12 companies in AED 107 million fraud scheme

A major fraud operation involving forged documents and a money laundering scheme worth over AED 107 million has led to the referral of 15 individuals, including several fugitives, to criminal court, UAE authorities have announced.

UAE Attorney-General Dr. Hamad Saif Al Shamsi confirmed that 12 companies are also facing charges related to forgery, tax evasion, and money laundering, WAM reported.

The accused, of various Arab nationalities, stand accused of operating a sophisticated criminal network that exploited official documents from the Ministry of Economy, customs authorities, and other government bodies.

Investigations, overseen by the Federal Prosecution for Tax Evasion Crimes, revealed that the group falsified documents to unlawfully claim value-added tax (VAT) refunds on fictitious goods. These goods, they falsely claimed, had been purchased, VAT-paid, and exported abroad using shell companies created for the fraud.

The defendants are also accused of diverting VAT payments on imports that should have been remitted to the Federal Tax Authority. The total value of the misappropriated funds exceeds AED 107 million, with the proceeds being laundered to hide their illicit origins.