Abu Dhabi orders jail, Dh90m fine for 4 Filipino expats, jewellery trader in fraud, money laundering case ...United Arab Emirates

Abu Dhabi: An Abu Dhabi court has ordered four expats and a jewellery trader to pay Dh90 million after they were convicted of money laundering and fraud. The expats, all Filipinos, were also sentenced to five years in jail, followed by deportation for their crimes, the Abu Dhabi Judicial Department said on Tuesday. According to court records, the convicted had defrauded about 4,000 other Filipinos on the pretext of investing in gold. Authorities seized a number of valuables from the convicts, including 7.4 kilograms of 18-carat gold valued at Dh1.37 million. Each of the four will have to serve their imprisonment terms, and pay Dh10 million in fines. The jewellery trader, owned by one of the

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Abu Dhabi orders jail, Dh90m fine for 4 Filipino expats, jewellery trader in fraud, money laundering case ...United Arab Emirates

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