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All is not fair in love, war and tax evasion!

An American citizen, Asim Ghafoor, has been convicted for committing tax evasion and money laundering by criminal court of Abu Dhabi .On top of that, he belonged to legal profession, which proves that nobody can escape the long hands of the law in UAE. Compliance to tax laws can be confusing, it is advised to take assistance from the most experienced tax lawyer in UAE.

What is considered as money laundering?When a person has knowledge that the money was derived from a felony or misdemeanour, and intentionally continue to transfer, conceal, acquire, help somebody to acquire or possess such money, then he is said to have committed the offence of money laundering.

Cooperation between nations is necessary
In the present case, the American Authorities reached out their counterparts in UAE and requested for inquiry into bank account transactions of the accused and for assistance in investigating the accused for tax evasion. The UAE Public Prosecution, on investigation suspected some irregularities in the transaction of the accused. The accused was carrying out international money transfers without having any proof of their source.

Consequently, the accused was charged of tax evasion and money laundering in the Abu Dhabi criminal Court, and the court sentenced him to three years imprisonment, a fine of AED 3million and deportation from UAE.

In short
Activities directly or indirectly leading to Money laundering and tax evasion are mostly transnational in nature, thus there is need for coordination between legal authorities of countries for better investigation, collection of evidences and good conviction rate. This case is an example of success of such mechanism.

For more information on corporate crimes or legal consultation reach out to top law firms of Dubai or contact BSB Legal Consultants to get in touch with a team of multi-jurisdictional lawyers possessing expertise in different fields of law. Email us at or call us on +971 508014003.

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