A Dubai Court of Appeal has increased the fine against Indian businessman Balvinder Singh Sahni, popularly known as Abu Sabah, to Dh150 million (approximately USD 40.8 million) in a money laundering case.
The court upheld the initial ruling, which included a five-year prison sentence, a personal fine of Dh500,000 (USD 136,147), and deportation after serving the sentence, reported Khaleej Times.
Involving 33 defendants, the case is considered one of the largest financial crimes reported in the country.
Investigators stated that Sahni and others had established a network of shell companies and conducted suspicious transfers to move illicit funds both within and outside the UAE, as reported by Khaleej Times.
The businessman was convicted of laundering money as part of an organised criminal group.
He was also convicted of possessing and concealing items believed to be of illegal origin.
Dubai authorities ordered the confiscation of Dh150 million in criminal proceeds, along with computers, phones, and other belongings that were seized during the proceedings.
Three companies, linked to the case, have been fined Dh50 million (USD 13.6 million) each.
Who is Balvinder Singh Sahni?
Also known as Abu Sabah, Sahni was once commonly seen in Dubai’s elite circles.
He was known for his flamboyant and luxurious lifestyle.
He famously spent Dh33 million (USD 8.9 million) at a public auction in 2016 to buy Dubai’s coveted single-digit license plate “5”, reported Khaleej Times.
