Whoever calls for or promotes a contest or electronic currency, or creates or manages a fictitious portfolio or company with the intention of receiving or raising funds from the public for the purpose of investing, managing, employing or increasing these funds without a license from the authorities concerned shall be punished with imprisonment for not more than (5) five years and/ or a fine of not less than (AED 250,000) two hundred fifty thousand dirhams or more than (AED 1,000,000) one million dirhams. The court shall order the refund of the illegally seized funds.
Interpretation and application must be checked against the official text and current version.