Home UAE UAE Public Prosecution explains penalties of embezzlement of moveable property pledged as security for debt

UAE Public Prosecution explains penalties of embezzlement of moveable property pledged as security for debt

by Dubai Forum
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ABU DHABI, 2nd February, 2022 (WAM) — The UAE Public Prosecution (PP) explained today, through a video on its social media accounts, the penalties for the embezzlement of moveable property that is pledged as security for debt.

According to Article 455 of the Federal Decree-Law No. 31 of 2021 in passing the Crimes and Penalties Law, “whoever embezzles or attempts to embezzle a moveable property which had been pledged as a security for a debt that is payable by such person or another person” shall be sentenced to imprisonment for a duration of not more than 2 years or fined a monetary penalty of not less than AED20,000.

The same penalty shall be applied against the owner who is appointed as a guardian of the judicially or administratively attached moveable properties thereof if such owner embezzles something therefrom.

This video is a part of the Public Prosecution’s continuous efforts to enhance legal culture among members of the community and increase their awareness about the latest legislations in the country.

WAM/Lina ibrahim/Hazem Hussein

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