Any debtor, whose bankruptcy has been declared based on a final judgment, and who, after having ceased to repay its debts, commits any of the following acts, shall be considered to have committed bankruptcy fraud and shall be punished with imprisonment sentence for a period not exceeding (5) five years and / or a fine not exceeding (AED 1,000,000) million UAE dirhams: 1. Conceals all or any of its books, destroys and alters the same with the intention of causing damage to its creditors. 2. Disposes of its assets after it ceases to repay its debts or after it becomes in a state of deficit in the financial position, if the same is made with the intention of excluding these assets from the creditors. 3. Conceals part of its assets with the intention of causing damage to its creditors. 4. Acknowledges debts that are not owed thereby or reduces its assets while being aware of the same, whether the acknowledgment is made in writing, orally, in the balance sheet, or through refraining from submitting papers or clarifications. 5. Obtains ratification on the terms of composition by fraud.
Interpretation and application must be checked against the official text and current version.