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The case was the largest alleged fraud case in the history of Dubai, and the ten-year jail sentences passed on the alleged perpetrators of the scheme were also the longest that Dubai authorities have ever passed in a fraud case. [2] As of 2018, four of the alleged perpetrators remain in jail after having their sentences extended by another 20 ...
20. Take the present case. The essence of the claim advanced by Dubai Aluminium against Mr Amhurst is that he and Mr Salaam engaged in a criminal conspiracy to defraud Dubai Aluminium. Mr Amhurst drafted the consultancy agreement and other agreements in furtherance of this conspiracy.
On 31 October 2011, the signing of Dubai Law No 16. [1] allowed the DIFC Courts to hear any local or international cases and to resolve commercial disputes with the consent of all parties. The DIFC Courts are part of the sovereign structure of the Emirate of Dubai, within the UAE and independent from the Dubai Courts and Government of Dubai.
However, despite government efforts to combat money laundering, regulation of banking is still developing. [9] Washington-based Center for Advanced Defense Studies released a report that US sanctioned war profiteers, terror-funders and drug traffickers have been long-using Dubai's real-estate market as a money-laundering haven. [15]
Due to financial secrecy, low taxes, and valuable real estate, Dubai is an appealing destination for money launderers, criminals, corrupt political figures and sanctioned businesspeople to launder or hide money. [16] Dubai has the second-most five-star hotels in the world after London [17] and the tallest building in the world, the Burj Khalifa ...
The Abu Dhabi Federal Court of Appeal on Sunday handed 10-year prison sentences to 53 Bangladeshi nationals and an 11-year term to another Bangladeshi national, in addition to the three life ...
The new Anti-Money Laundering and Other Matters Bill introduced to parliament on Tuesday will remove the need for the prosecution to show a direct link between the criminal Singapore aims to make ...
A British teenager sentenced to one year in a Dubai jail over a holiday romance with a 17-year-old girl has handed himself in to begin his sentence. Marcus Fakana, 18, was convicted of having sex ...