Question

Mr. Rashid had a small business outlet dealing with toys. He always had an inclination to make more profits in his business and as such was involved in an illegal activity to satisfy his motive of having more money. As he started gaining more money from the illegal activity, he purchased a Furniture business with the intention to pass of his illegally gained money as profits from the legal Furniture Shop. To create false business accounts Mr. Rashid employed Mr. Mustafa his school mate as his Accountant.

1. Discuss the various offences related to the case and the parties liable for punishment
2. Analyze the Oman Penal Code 1974 in detail, with reference to the case let.        

Answer 1

A. Offences involved:

1. illegal Business activities prohibited by law.

2. passing on the illegally gained money as legal to furniture shop (Money Laundering).

3. False buiness accounts and other compliance related offences.

B. a person who commits or participates in a money laundering crime, or attempts to do so, may be punished with imprisonment for a term ranging between three and ten years and with a fine of 5,000 Omani Rials or greater

Mr. Rashid and Mr. Mustafa both are liable in money laundering crime.