Latest news with #BalvinderSinghSahni
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE: Indian billionaire jailed, to be deported in money laundering case
A UAE court has sentenced Indian businessman Balvinder Singh Sahni popularly known as 'Abu Sabah,' and several others to five years in prison for their role in a major money laundering case involving an organised criminal group, Arabic daily Emarat Al Youm reported on Friday. The court also imposed a fine of Dh500,000 on each defendant, ordered their deportation after serving the sentence, and confiscated Dh150 million in illicit gains, along with computers, mobile phones, and other seized items. The court found the defendants guilty of laundering large sums of money obtained through criminal activities, using sophisticated methods to conceal the origin and movement of the funds. The verdict follows an investigation that revealed the defendants had set up a sophisticated money laundering operation using fake companies and suspicious bank transfers, the report said. The accused were charged with concealing or possessing assets suspected to have been obtained illegally, as well as running a money laundering racket through an organised group. Dubai Police referred the case to the Public Prosecution in December last year. The matter was transferred to the Criminal Court in January, where hearings began and culminated in yesterday's (Thursday) ruling. The case has now been moved to the Court of Appeal for further proceedings. Among those convicted are individuals tried in absentia and others who appeared in court, including three companies. Each of the corporate entities was fined Dh50 million. Authorities also ordered the confiscation of all criminal proceeds and evidence, including financial records, mobile devices, and electronic equipment. Investigators uncovered a broad network of financial activities tied to domestic and international partners. The accused allegedly used fictitious partnerships and front companies to obscure the origins of the illicit funds.
India Today
06-05-2025
- India Today
Baramulla village faces renewed ceasefire violations after Pahalgam terror attack
1:45 Balvinder Singh Sahni, aka Abu Sabah, who once dazzled Dubai with black Bugattis, gold-plated lifestyles, and a ₹80 crore number plate, is now convicted.
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Business Standard
06-05-2025
- Business
- Business Standard
Who is the Indian-origin billionaire Balvinder Singh jailed in Dubai?
Dubai-based Indian businessman Balvinder Singh Sahni, also known as 'Abu Sabah', has been sentenced to five years in prison by Dubai's Fourth Criminal Court on charges of money laundering through a criminal network, according to a report by the Gulf News. According to the news report, Dubai's court also imposed a fine of AED 500,000 (approximately ₹1.14 crore) and ordered the confiscation of AED 150 million (about ₹344 crore) linked to the crime. After completing his prison term, Sahni will be deported from the UAE. Who is Balvinder Singh Sahni? Sahni is a well-known businessman among Dubai's business elites. He is the founder of a real estate and property management company, RSG Group. The company operates in the UAE, India, the US, and other countries. In 2016, Saini made headlines when he purchased the car number plate 'D5' for AED 33 million (about $9 million at the time). The deal was one of the most expensive car plates ever sold. Known for his fancy lifestyle, Sahni frequently appeared in the news for his luxury cars, expensive real estate investments, and charity events. Criminal network using shell companies Initially, the case began at Bur Dubai Police Station, and then later it was transferred to the Public Prosecution on December 18, 2024. Gulf News mentioned that the first court hearing in the case took place on January 9, 2025. The findings revealed that Sahni, along with 32 others, including his son, was involved in a large-scale money laundering operation in the country. According to court documents, the group ran a criminal network using shell companies, fake partnerships, and forged invoices to move money illegally. However, these activities were carried out not only in the UAE but also involved international financial transactions. The network used complex techniques to mislead the illegal origin of their funds. As part of the investigations, the authorities have seized the electronic devices, documents, mobile phones, and financial data. The court ruled that AED 150 million was money made through illegal means and ordered it to be confiscated. Multiple defendants According to the report, the case involved a total of 33 defendants. Some of them appeared in court, while others were tried in absentia. In addition to Sahni's five-year sentence, several other individuals were sentenced to one year in jail and fined AED 200,000 each. Three companies found guilty in the case were each fined AED 50 million and ordered to surrender any criminal assets they controlled.
Mint
06-05-2025
- Business
- Mint
Balvinder Singh Sahni jailed in Dubai: From $100mn house to ₹80cr Rolls Royce plate - Look at his lavish spends
Balvinder Singh Sahni, a Dubai-based Indian billionaire, was sentenced to 5 years in jail on money laundering charges. The court ordered the confiscation of 150 million AED ( ₹ 344 crore) from the businessman, in addition to 5,00,000 AED ( ₹ 1.14 crore), Gulf News reported. Balvinder Singh Sahni, popularly known as 'Abu Sabah', is the founder of Raj Sahni Group (RSG), a company operating in the UAE, the US, India, and other countries. He is also known for his lavish spending, including buying a single-digit car plate 'D5' for Dh33 million at a special auction for distinguished number plates, reportedly one of the most expensive in the Emirates. In 2016, Balvinder Singh Sahni gained significant attention for purchasing the Dubai license plate "D5" for AED 33 million (nearly ₹ 80 crore) and the "O9" plate for AED 24.5 million, referring to his belief in the lucky number 9. Sahni is a "businessman whose love for the number 9, the colour blue, luxury cars, and rare licence plates made headlines more often than his commercial ventures," Khaleej Times reported. 'I like collecting unique number plates and I am proud to have got this number. I like number nine and D5 adds up to nine, so I went for it,' Sahni said in a YouTube video on the "Mo Vlogs" channel. He lives in a luxurious and lavish $100 million mansion in Dubai. Sahni also bought a mobile number (058-8888888) for AED 4.5 million. In a 2022 interview, he reportedly said, 'I have both Dubai 5 and Abu Dhabi 5….I don't even know how many cars I have. My number plates alone are worth more than my vehicles.' His other lavish expenses include a collection of Rolls-Royce cars, a Mercedes-AMG G63, a mansion including customised Bentley furniture and a Bugatti Chiron display, the Mo Vlogs video showed.
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First Post
06-05-2025
- Business
- First Post
Who is Balvinder Singh Sahni, the Indian-origin billionaire jailed in Dubai?
Balvinder Singh Sahni, a Dubai-based Indian-origin business tycoon, has been sentenced to five years in prison after being found guilty of financial crimes, including money laundering. Sahni, a Punjabi heritage businessman popularly known as Abu Sabah, is chairman of the multi-billion dirham conglomerate, RSG Group. He has come to the limelight for his lavish lifestyle and love for luxury cars read more Balvinder Singh Sahni, more popularly known as Abu Sabah, was handed the jail term by Dubai's Fourth Criminal Court on Friday on charges of money laundering. Image courtesy: Instagram/@balvinder_sahni A Dubai-based Indian-origin business tycoon has been sentenced to five years in prison after being found guilty of financial crimes, including money laundering. Balvinder Singh Sahni, more popularly known as Abu Sabah, was handed the jail term by Dubai's Fourth Criminal Court on Friday. Alongside the prison sentence, Sahni has also been slapped with a hefty fine of AED 500,000 (approximately Rs 1.14 crore). But the repercussions don't end there. The court has further ordered the confiscation of staggering AED 150 million (around Rs 344 crore) funds from the billionaire businessman before he is deported from the country. STORY CONTINUES BELOW THIS AD So, who exactly is Balvinder Singh Sahni? And what are the charges that brought down one of Dubai's most elite businessmen? Here's what we know so far. Who is Balvinder Singh Sahni? -Born on April 7, 1972, Balvinder Singh Sahni is the founder and chairman of the Raj Sahni Group (RSG), a multi-billion-dirham conglomerate involved in real estate, automotive, industrial equipment, and investments across the West Asia, the US, India, and South Asia. -Some of RSG's high-profile Dubai property portfolio includes projects such as: Qasr Sabah – $123 million residential complex in Dubai Sports CityBurj Sabah – 24-storey apartment building in Jumeirah Village Circle, worth $50 million Sabah Rotana – Five-star hotel near Umm Suqeim Jebel Ali Central Rotana – Four-star hotel near the Jebel Ali Metro Station -The 53-year-old businessman is a well-connected member of Dubai's elite circle, often seen wearing his unique royal blue kandura, baseball cap and matching trainers. A known luxury car collector, Sahni frequently shared photos of his vehicles with his 3.3 million Instagram followers. -He shot to fame in 2016 for purchasing a single-digit vehicle license plate ' D5' for his Rolls-Royce car for nearly AED 33 million (Rs 75 crore) at a special auction, which was the most expensive number plate.'I have both Dubai 5 and Abu Dhabi 5,' he reportedly said in a 2022 interview, adding: 'I don't even know how many cars I have. My number plates alone are worth more than my vehicles.' STORY CONTINUES BELOW THIS AD -Among his luxury cars is his limited-edition black Bugatti, which he once parked in the centre of his $100 million Palm Jumeirah mansion on the advice that something black would protect him from the 'evil eye,' Khaleej Times reported. 'I don't even like black,' Sahni said in a YouTube interview filmed in his gold-trimmed home. 'But they said it wards off the evil eye," he was quoted as saying. -The businessman also gained limelight in Kuwait when he paid Dh600,000 (Rs 1.37 crore) for the country's most expensive mobile number (058-8888888). -Sahni, of Punjabi heritage, started his business journey at 18, dropping out of a business management degree to launch an automotive spare parts business. While his father had already established a name in Kuwait, Sahni shifted to Dubai in 2006, terming it as a risky move.'It was a very hard decision,' he recalled in an early interview. 'In Kuwait, I was respected. Dubai was a different ballgame,' he added. STORY CONTINUES BELOW THIS AD -Apart from business, Sahni is known for his philanthropy, especially in Punjab. After his father, Amrik Singh, died in 2004, he built an old-age home, 'Apna Ghar,' in Amritsar. -Following his mother Harbans Kaur Sahni's passing in 2007, he constructed a tuberculosis hospital and later India's largest hospital for the deaf and mute in the same city. -He has also donated AED 1 million to Abu Dhabi's 'Together We Are Good' program during the COVID-19 pandemic and took part in fundraising for medical research. In 2020, he was awarded the 'Businessman of the Year' title at the Sikh Awards in Dubai. What is the case against him? Balvinder Singh Sahni was among 34 individuals convicted of running a sophisticated financial crime network. The group was accused of funnelling millions of dirhams through shell companies and suspicious money transfers in a wide-reaching operation. The case against Sahni began after a report was filed at the Bur Dubai Police Station last year, triggering a formal investigation. On December 18, 2024, the matter was referred to the Public Prosecution, which uncovered significant financial data and business connections both within the UAE and abroad. The investigation led to a court session on January 9, where the complex nature of the money laundering scheme was laid bare. STORY CONTINUES BELOW THIS AD Sahni's son was also named as one of the main defendants. Several others involved in the case were tried in absentia, while authorities moved to seize assets linked to the operation. In addition to freezing AED 150 million (about $40 million) in funds, the court confiscated various personal belongings, including mobile phones. As part of the verdict, the court ruled that Sahni would be deported after completing his five-year prison sentence. While Sahni and his son received the maximum penalty, others in the case were handed lighter sentences, including one-year jail terms and AED 200,000 fines. With input from agencies
