Indian businessman jailed for 5 years, fined Dhs500,000 over money laundering in UAE
Dubai Criminal Court sentenced the Indian businessman known as Abu Sabah to five years in jail, followed by deportation after serving his sentence, and fined him Dhs500,000. Additionally, Dhs150 million of his assets were confiscated, after being convicted, along with 32 others, including his son, of money laundering as part of an organised criminal gang.
The court also sentenced 11 suspects in absentia to five years in jail and a fine of Dhs500,000 each, while 10 others were jailed for one year and slapped a fine of Dhs200,000 each.
The court further fined three corporate entities Dhs5 million each and ordered the confiscation of proceeds from the crime, along with seized electronic devices and phones. All suspects are to be deported after serving their sentences.
The case started when a report was filed with the Dubai Police, and the Public Prosecution referred the file on December 18, 2024, and the first trial session commenced on January 9, 2025.
Extensive investigations revealed that the suspects established a comprehensive money laundering network, relying on shell companies and suspicious financial transactions both within and outside the country.
The case involved 33 suspects, some of whom were convicted in person and others in absentia.
In its ruling, the court ordered the confiscation of all funds used in the crime, along with electronic devices, phones, and documents seized during the investigation.
The total value of confiscated funds amounted to approximately Dhs150 million. The rulings also included a Dhs50 million fine on three companies involved in the crime as legal representatives, with the confiscation of their associated assets.
"Abu Sabah" is known as the owner of a property management company with branches in the UAE, the United States, and India. He is famous for his luxurious lifestyle and prominent investments, most notably purchasing a distinctive number plate bearing the number "5" for Dhs33 million at a public auction in 2016.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
43 minutes ago
- Gulf Today
Man offers to buy business class air ticket, defrauds another of Dhs13,000 in Abu Dhabi
Abu Dhabi Family, Civil and Administrative Cases Court has ordered a person to return Dhs13,000 plus a compensation of Dhs5,000 to another after misleading him into believing he could book a business-class ticket from the UAE to another country at a competitive price. In good faith, the victim transferred the money to the defendant's account, but the defendant then pocketed the money, failed to fulfill the agreement and procrastinated when asked to return the amount. The plaintiff filed a lawsuit against the defendant in which he requested that he be obligated to pay Dhs13,000 plus a compensation of Dhs10,000, the legal interest on the amounts required to be paid and the legal fees and expenses incurred by the lawsuit. The plaintiff pleaded that the defendant made him believe that he could book a business class ticket from the UAE to another country at a competitive price and consequently he, in good faith, transferred the amount to his account. The defendant, however, pocketed the money, failed to fulfill the agreement and procrastinated when asked to return the money, he added, noting that these actions caused him financial harm, which prompted him to file this lawsuit with the aforementioned requests. The court explained that it is legally stipulated in articles 304 and 308 of the civil proceedings law that 1) The hand that has taken is liable until it gives it back. 2) The one who extorts the property of another shall have to restore it back in the same condition in which it was at the time of extortion, and at the same place where extortion occurred. It is proven from the papers that the defendant pocketed the plaintiff's money, which was transferred to him as shown in the account statement, the court said. Therefore, the court will build on that by obligating the defendant to pay Dhs13,000to the plaintiff, it added. The court stated that as the plaintiff requested to be compensated for the harms that befell him and based on the causal relationship between the error and the harm, the court hereby estimated the compensation that the plaintiff deserves for such harms at Dhs5,000.
Sharjah 24
10 hours ago
- Sharjah 24
CBUAE imposes financial sanction on exchange house
The financial sanction of AED3,500,000 has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with AML/CFT policies and procedures. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
Gulf Today
14 hours ago
- Gulf Today
Failure to give way to emergency vehicles to lead to Dhs6,000 fine, 6 black points: AD Police
Abu Dhabi Police, represented by the Traffic and Security Patrols Directorate, affirmed that there are three types of emergency vehicles for which road users must give free passage, noting that motorists failing to do so would be slapped with a fine of Dhs6,000, get six black points and their vehicles would be impounded for 30 days. Major Faisal Rashid Al Dhanhani from the Traffic and Security Patrols Directorate said the emergency vehicles that road users must give way to include all types of police cars if they are using emergency lights because they are the first responders to reports and accidents of all kinds. "The same applies to ambulances of all types and civil defence vehicles, as giving way to these vehicles contributes to saving lives," he added. He explained that clearing the way for emergency vehicles contributes to the rapid intervention of concerned police authorities to provide emergency services to the injured and facilitate the work of paramedics in a way that contributes to their rescue in the timely and speedy manner possible. Al Dhanhani called on everyone to help the authorities concerned and contribute to saving lives by giving way to emergency vehicles, noting that the aim is not to issue fines but to convey a message that giving way to emergency vehicles is essential.
