MUSCAT : The court issued its ruling on 15 July 2026, imposing a fine of RO 50,000, along with the confiscation of proceeds linked to the money laundering offence, including revenues and related interests. The court also ordered the closure of the company.
According to the Public Prosecution, investigations conducted in cooperation with relevant authorities uncovered large-scale financial transfers involving digital currencies that were proven to be proceeds of criminal activities.
The investigation found that the company had obtained funds from victims through fraudulent investment schemes, including the promotion of false opportunities promising unrealistically high returns, which encouraged victims to transfer their money.
The Public Prosecution said the funds were subsequently subjected to a series of complex financial transactions aimed at concealing their illegal origin, giving them the appearance of legitimate commercial returns, and integrating them into the financial system.
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