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Dubai -based Indian billionaire, Balvinder Singh Sahni was sentenced to 5 years in jail on charges of money laundering. A Dubai court ordered the seizure of 150 million AEDs ( 344 crore) from the businessman, Gulf News told.
5,00,000 AED fine ( 1.14 crore) was also imposed on the Indian businessman. In addition, the court ruled that Sahni be deported after the completion of his jail sentence.
Who is Balvinder Singh Sahni?
Balvinder Singh Sahni, who is widely known as ‘Abu Saba’, is the founder of a property management firm with operations in UAE, America, India and other countries, stated Gulf News.
Meanwhile, Khaleej Times reported that Balvinder Singh Sahni was the president of the RSG Group and often appeared in traditional Emirati dress, usually combined with a baseball cap.
He is a “businessman whose love for number 9, color blue, luxury cars and rare license plates made headlines more often than their commercial enterprises,” the Khaleej Times said.
Known for his high-profile investments and extraordinary lifestyles, he attracted public attention in 2016 after purchasing single-concrete car plate ‘D5’ for 33 million AEDs in 2016 ( 75 crore) in a special auction for reputed number plates. It was then the most expensive number plate.
“I have both Dubai 5 and Abu Dhabi 5,” he allegedly said in an 2022 interview, “I don’t even know how many cars I have. My number plates are more than my vehicles alone.”
According to reports, Sahni famous surrounded himself with objects, from which he believed that he attracts fate – or removing misfortune.
One of them was a limited-sanskrit black bugati, which he once parked at the center of his Palm Jumera Haveli on the advice that something black would save him from “Evil Eye”, Khaleej Times told him.
“I don’t even like black,” Sahni said in a YouTube interview filmed in her gold trimmed house. “But he said it is away from evil eyes,” he said that it was said.
What is Balvinder Singh Sahni’s charge?
Balvinder Singh Sahni was accused of joining the money laundering through a criminal organization. Last week, he was sentenced to five years in prison and was fined DH500,000 for robbing the DH150 million through a network of shell companies and through suspected financial transactions.
The verdict handed over by Dubai’s fourth criminal court allegedly ordered Sahni’s exile and his funds, electronic equipment and financial records.
Sahni’s son was among 32 others convicted with him. Some defendants were sentenced in absence. Others received mild punishment, including one year of prison conditions and DH200,000 fine.
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