I Was Scammed in Electronic Trading and Cryptocurrencies: How to Prove Your Right if the Company Owner Escapes to Another Country?

30 January 2026

If you fell victim to a scam through an electronic trading platform, a cryptocurrency, or forex in the UAE, and then the company's owner fled to another country, your right does not lapse with his flight. Your right rests on a clear principle: anyone carrying on a financial activity in the State — including virtual-asset activities and services, operating trading platforms, brokerage, and portfolio management — may not operate without a licence or approval from the Capital Market Authority under Federal Decree-Law No. 33 of 2025, and carrying on the activity without a licence is itself a crime. As for fleeing abroad, it does not suspend prosecution: Federal Law No. 39 of 2006 on International Judicial Cooperation in Criminal Matters (as amended by Federal Decree-Law No. 38 of 2023) allows the extradition and recovery of wanted persons, provisional arrest, and letters rogatory, while Federal Decree-Law No. 10 of 2025 on Combating Money Laundering allows tracing, freezing, and confiscating funds and recognising foreign confiscation orders. You establish your right in practice through four steps: documenting transfers and correspondence, verifying the platform's licence in the Authority's public register, filing a report with the Authority — which may open an administrative investigation and refer the suspected crime to the competent Public Prosecution — then activating the international tracing and recovery track.

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Online Trading and Cryptocurrency Fraud: How to Prove Your Right if the Company Owner Fled to Another Country

The Legal Framework: Who Regulates Trading and Cryptocurrency in the UAE?

The virtual-assets, trading, and financial-brokerage sector in the State is regulated by the Capital Market Authority, established under Federal Decree-Law No. 32 of 2025. Federal Decree-Law No. 33 of 2025 on the Regulation of the Capital Market brought "activities and services relating to virtual assets" within the financial activities subject to the Authority's licensing and supervision, entrusting it with regulating the trading of virtual assets and setting the procedures for their registration, and prohibiting the trading of any virtual asset in the State without its admission to the official list of virtual assets. At the level of the Emirate of Dubai, Dubai Law No. 4 of 2022 on Regulating Virtual Assets established the Virtual Assets Regulatory Authority (VARA), and the Authority issued Chairman of the Board Decision No. 04/Chairman of 2026 on regulating virtual-asset activity providers and the alternative trading system operator. Forex, in turn, is among the financial activities subject to the Authority (such as operating trading platforms, brokerage, and portfolio management), and may not be carried on without a licence or approval from it.

When Does a Dealing Constitute Fraud and Deception Under the Law?

Federal Decree-Law No. 33 of 2025 defined the forms of unlawful dealings and the acts that warrant punishment, including:

Operating without a licence Carrying on any financial activity — including virtual-asset services and brokerage — without the Authority's licence, approval, or registration.	Sham trading and false impressions Conducting transactions to create a false or misleading impression of genuine trading or actual demand, manipulating prices, or executing fictitious dealings.
Misleading data and advertisements Inserting false or misleading data into documents, prospectuses, or advertisements, or distributing them with knowledge of their inaccuracy.	Spreading rumours Deliberately spreading or promoting false or misleading news, information, or rumours liable to affect the integrity of the capital market.
Use of insider information Dealing on the basis of confidential insider information, disclosing it to others, or inducing others to deal on the basis of it.	Concealing material information Deliberately failing to disclose material information, or submitting forged or altered documents to the Authority.

How Do You Verify a Platform's Licence Before Trading?

Federal Decree-Law No. 33 of 2025 obliges the Authority to publish and update a public register listing licensed persons and the activities they carry on, as well as persons who carry on a financial activity without a licence, approval, or registration. The first means of proving a platform's unlawfulness is therefore showing that it holds no licence from the Authority. As for cryptocurrency specifically, the law prohibits trading any virtual asset in the State without its admission to the official list of virtual assets, so the absence of such admission is a presumption that the dealing is unlawful.

Steps to Prove Your Right and Recover Your Funds

1Document everything — Keep transfer receipts, bank statements, correspondence, screenshots of advertisements and promises, and subscription contracts; they are the foundation of proof, and what the Authority obtains through inspection is treated as legal evidence.

2Verify the licence — Check the Authority's public register to confirm the platform's status and whether the virtual asset is on the official list.

3File a report with the Authority — The Authority may conduct an administrative investigation based on a report, request data, documents, and bank accounts, and halt the suspected dealing.

4Referral to the Public Prosecution — The Authority may refer any suspected crime it uncovers to the competent Public Prosecution; in the case of unlicensed activity it may close the premises, seize funds and devices, and refer the violator to the Prosecution.

What if the Company Owner Fled to Another Country?

The company owner's flight abroad does not end the case or extinguish your right; three complementary legal tracks are activated to trace him, trace his funds, and recover them:

First: Cross-border inspection and the Authority's coordination (Decree-Law 33/2025)

The law allows the Authority to inspect the parent, holding, subsidiary, or affiliated company inside and outside the State, and to coordinate its work with the foreign regulator if the person is outside the State. The data and documents seized are treated as legal evidence, and the suspected crime is then referred to the Public Prosecution to handle the criminal track, including pursuit of the fugitive.

Second: Extradition, recovery, and Interpol (Law 39/2006 as amended by 38/2023)

The Federal Law on International Judicial Cooperation in Criminal Matters governs the extradition and recovery of accused persons and convicts from foreign authorities, subject to dual criminality and that the crime is punishable by a custodial penalty of at least one year. The Attorney-General may request — through the central authority — the recovery of accused persons and convicts, and in urgent cases may request the provisional arrest of the wanted person pending his extradition, which is the practical basis on which the Interpol Red Notice is built through the National Central Bureau. The law also allows mutual legal assistance and letters rogatory to gather evidence abroad, observed alongside international and bilateral conventions and the Riyadh Arab Convention for Judicial Cooperation.

Third: Tracing and recovering funds (Decree-Law 10/2025 on Combating Money Laundering)

The Anti-Money Laundering Law allows tracing, freezing, seizing, and confiscating proceeds; the Financial Intelligence Unit receives suspicious-transaction reports and refers them to the competent authorities. Confiscation judgments or orders issued by a foreign judicial authority may be recognised where a ratified convention exists between the two States, and a request for international cooperation may not be refused on the ground that the crime is fiscal, tax-related, or political in nature, in addition to the deportation of a convicted foreigner from the State.

Important Legal Deadlines and Timeframes

48 hours

Period for presenting the person sought for extradition before the Public Prosecution from the time of arrest (Law 39/2006)

15 days

Period for the Attorney-General to refer the extradition request to the competent court (Law 39/2006)

60 days

Maximum period of detention of the person sought for extradition (Law 39/2006)

10 working days

Period for notifying the violator of the administrative penalty or measure from the date it is issued (Decree-Law 33/2025)

Practical Legal Tips

Do not delay documenting the company owner's identity, location, and bank accounts as soon as you suspect; this is the key to tracing and to requesting recovery upon flight.	Report early to the Authority and the Prosecution; speed allows the funds to be frozen before they are smuggled out and the provisional arrest and Interpol notice to be activated.
Deal only with an entity licensed or approved by the Authority; operating without a licence is itself a crime that strengthens your legal position.	Keep all transfers, correspondence, and advertisements; what the Authority obtains through inspection is treated as admissible legal evidence.
The accused's flight does not prevent trial; he may be tried in absentia and his recovery requested, and he is re-tried upon extradition in felonies.	Engage a lawyer to follow up the international judicial-cooperation track, letters rogatory, and cross-border asset recovery.

Legal References

1. Federal Decree-Law No. 33 of 2025 on the Regulation of the Capital Market.
2. Federal Decree-Law No. 32 of 2025 on the Capital Market Authority.
3. Decision of the Chairman of the Board of the Capital Market Authority No. 04/Chairman of 2026 on regulating virtual-asset activity providers and the alternative trading system operator.
4. Dubai Law No. 4 of 2022 on Regulating Virtual Assets in the Emirate of Dubai.
5. Federal Law No. 39 of 2006 on International Judicial Cooperation in Criminal Matters, as amended by Federal Decree-Law No. 38 of 2023.
6. Federal Decree-Law No. 10 of 2025 on Combating Money-Laundering Crimes and the Financing of Terrorism and Illegal Organisations, and its Implementing Regulation issued by Cabinet Resolution No. 134 of 2025.
7. Federal Decree-Law No. 38 of 2022 promulgating the Criminal Procedure Law.
8. The Riyadh Arab Convention for Judicial Cooperation, and the international and bilateral conventions on extradition and judicial cooperation to which the State is a party.

Did the company owner flee abroad with your money? Do not delay proving your right and recovering it

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Frequently Asked Questions

QThe forex company owner fled with my money — can I still recover my right?

Yes, flight does not extinguish your right. You document your evidence and file reports with the Authority and the Public Prosecution, then the international tracing and recovery track is activated: requesting the accused's recovery and the freezing and confiscation of his funds through international judicial cooperation and the Anti-Money Laundering Law.

QWill the fugitive accused be extradited to the UAE if he leaves for another country?

The Federal Law on International Judicial Cooperation allows requesting the extradition and recovery of accused persons and convicts, subject to dual criminality and that the crime is punishable by a custodial penalty of at least one year, through the central authority and in accordance with ratified conventions, with provisional arrest permitted in urgent cases.

QHow do I recover my money from a fraudulent trading company that fled abroad?

Through complementary tracks: freezing and confiscating funds under the Anti-Money Laundering Law, recognising foreign confiscation judgments where a ratified convention exists, alongside seizing funds inside the State through the Authority and the Prosecution, and a civil claim for compensation.

QWhat is Interpol's role in pursuing the fugitive company owner?

Interpol is an executive tool that works through the National Central Bureau to circulate the request for the wanted person's arrest, and in practice it is built on the provisional-arrest request issued in urgent cases as a prelude to extradition under the International Judicial Cooperation Law.

QDoes my right lapse if the platform was unlicensed?

No — the opposite is true; carrying on a financial activity without the Authority's licence is itself a crime and a presumption of unlawfulness that strengthens your position, and it can be proven by the platform's absence from the Authority's public register and the asset's absence from the official list of virtual assets.

QWhat is the difference between a report to the Authority and a criminal report to the Prosecution?

The Authority performs a regulatory role and an administrative investigation and may refer the suspected crime to the Public Prosecution, while the Prosecution handles the criminal investigation, prosecution, and the extradition and recovery requests; the two tracks are complementary.

QCan the accused's funds be frozen abroad?

The Anti-Money Laundering Law allows tracing, freezing, and confiscating proceeds and recognising foreign confiscation judgments where a ratified convention exists, with priority given to international cooperation requests and a prohibition on refusing them on the ground that the crime is fiscal, tax-related, or political in nature.

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✓Legal Disclaimer

The information in this blog is of a general educational nature, published to spread legal culture and community awareness. It does not constitute legal advice or a legal opinion on a specific matter, and it does not create a lawyer–client relationship. For an accurate legal opinion, please contact AWADH ALMHEIRI LAW FIRM AND LEGAL CONSULTATIONS. This content is published in Arabic and English; in the event of any discrepancy between the two versions, the Arabic version shall prevail.

Our Legal Services in Dubai

AWADH ALMHEIRI LAW FIRM AND LEGAL CONSULTATIONS in Dubai provides services for fraud and scam cases in online trading, cryptocurrency, and forex, the recovery of funds from fugitive companies, preparing reports for the Capital Market Authority and the Public Prosecution, and following up extradition, international judicial cooperation, and asset freezing, through a select team of lawyers and legal consultants.

Our Services Across the Other Emirates

Our services in cases of financial and digital fraud, the flight of trading-company owners, and the recovery of funds extend to Abu Dhabi, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah, Fujairah, and all emirates of the State, including consultation and representation before the regulatory authorities, the Public Prosecution, and the competent courts.