Oman Court Fines Hi Shopping Company, Orders Closure in Money Laundering Case

A court in Oman has convicted the company behind the Hi Shopping platform in a major money laundering case, imposing a fine of RO50,000, confiscating illicit proceeds and ordering the permanent closure of the business after finding it had laundered funds generated through fraudulent investment schemes.

The ruling was delivered by the Muscat Court of Appeal (Criminal Division) on July 15, 2026, marking the culmination of a high-profile investigation by the Public Prosecution into the company's financial activities.

According to the judgment, the court fined the company RO50,000, ordered the confiscation of all proceeds linked to the money laundering offence, including any revenues, profits and financial benefits derived from the illegal transactions, and directed the permanent closure of the company's premises. Reports from Oman also indicate that the case involved the owner of the company and other individuals connected with the operation.

The Public Prosecution said the case emerged after an extensive investigation conducted in coordination with relevant authorities, which uncovered large-scale financial transfers involving digital currencies and other assets traced to criminal proceeds.

Investigators found that the company had obtained money from victims through fraudulent investment schemes promoted via the Hi Shopping application. The platform allegedly lured investors by advertising fictitious investment opportunities and promising exceptionally high and unrealistic returns, persuading victims to transfer substantial sums of money.

The prosecution said the illicit funds were subsequently subjected to a series of complex financial transactions designed to disguise their criminal origin. These transactions allegedly included the movement of funds through multiple channels, including cryptocurrency transfers, with the objective of concealing their source, creating the appearance of legitimate commercial income and integrating the proceeds into the financial system.

The investigation also traced extensive financial flows through bank accounts linked to the company and its owner. Authorities concluded that the assets consisted of cryptocurrency proceeds generated from unlawful activities, together with money fraudulently obtained from victims of the investment scheme.

The case highlights Oman's continued efforts to strengthen enforcement against financial crimes, particularly those involving digital assets and online investment fraud. In recent years, the Public Prosecution has intensified investigations into money laundering schemes that use cryptocurrencies and sophisticated financial structures to conceal illicit proceeds, with courts increasingly ordering asset confiscation and business closures alongside financial penalties.

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