Four charged with fraud in UAE-Europe VAT case

Four men have been charged with involvement in a major fraud case that bears similarity to the complex carousel fraud that has plagued the UK tax system.

The Dubai Attorney General, Issam al Humaidan, yesterday referred two Europeans and two Asians to the Dubai Misdemeanours Court on charges of money laundering and forgery involving the illegal transfer of £150 million (Dh830m) between the UAE, the UK and the Netherlands.

Mr al Humaidan said in a statement that information received by the Anti-Organised Crime Department uncovered “suspicious transfers” of large sums of money between the accused and accounts in the UK and the Netherlands.