Indian businessman jailed for 5 years, fined Dhs500,000 over money laundering in UAE
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.
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