DUBAI : The SCA announced that the penalised entity was found to have colluded with a foreign company to deceive investors and illegally seize client funds. The investigation revealed that the firm falsely claimed the foreign partner was licensed by the SCA, misleading the public and breaching several laws related to anti-money laundering, combating terrorism financing, and other regulatory standards.
The case has now been handed over to the competent judicial authorities for further legal proceedings.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Read More
- “Another milestone in India’s space journey”: MEA congratulates ISRO on GSLV-F18 launch
- Air India gets DGCA approval for flying academy in Maharashtra
- Nine dead, five injured after oxygen cylinder explodes inside ambulance in Pakistan
- Cyclone Arnab kills three in eastern India
- Thousands evacuated as Cyclone Arnab approaches India’s eastern coast
