Latest news with #Dh150
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.
Khaleej Times
20-05-2025
- Entertainment
- Khaleej Times
Dubai's Global Village announces extension of Season 29
Sad to see one of your favourite destinations wrapping up for the summer? The good news is that Dubai's Global Village, one of the UAE's top family attractions, has announced a one-week extension of Season 29. Visitors can still head over to the tourist hotspot as the shopping destination extended its closing date to May 18 in an announcement on Sunday. The iconic tourist spot was previously set to close its gates on May 11. The destination will operate until May 18 from 4pm to 1am every day. Shoppers have just a few days left to enjoy discounts of up to 70 per cent at Global Village. Vendors across many pavilions are offering final clearance sales on a wide range of products, from abayas and accessories to footwear and souvenirs. The discounts are currently in many pavilions, and marks the grand shopping finale of the season. From heritage-rich handicrafts to modern accessories and fashion items, every corner of Global Village is buzzing with last-minute shoppers looking to grab bargains. Vendors said that they are slashing prices to clear stock. At the UAE Pavilion, shoppers are taking advantage of the massive discounts on traditional wear. Jalabia and abayas, which were originally priced between Dh150 to Dh200, are now available for as low as Dh50. Recently announced offers will continue to be available until the season's closure. These include the 'Kids Go Free' offer, allowing children under 12 to enter the park free of charge, as well as the 'Carnaval offer', providing a selection of unlimited rides in the Carnaval area for just Dh50, and the 'Golden Bar Challenge', where participants have the chance to win Dh2,900 in cash by lifting a golden bar from a box — part of a total prize pool of Dh87,000. Before season ends, 250 dining options are still available to explore, some of which are only available at Global Village. These include a number of savoury delicacies and sweet treats, made of mouthwatering flavours and with a unique presentation. Global Village announced that fireworks displays will light up the skies to celebrate the grand finale next Friday, Saturday, and Sunday. This is not the first time Global Village has extended its season. Last year, the attraction announced the extension of season 28 from April 28 to May 5. Few days later it announced a further extension to May 8 due to high demand. It had also increased its operating hours during the extension period to cater to the high demand. Meanwhile, in 2022, Global Village extended its 26th season from April 10 to May 7. As the season draws to a close, Global Village is wrapping up with a range of exciting new additions and experiences. This year, the park has expanded its offerings to include more cultural showcases, new entertainment acts, and upgraded infrastructure — all aimed at enhancing the visitor experience. It had also lined up a series of stunning acts and performances as Global Village was set to close by Sunday.
Hi Dubai
15-05-2025
- Business
- Hi Dubai
Up to 70% Discounts: Shoppers Rush to Global Village as Season Ends
Shoppers are rushing to Global Village for massive clearance sales as the popular destination prepares to wrap up its 29th season this Sunday. With prices slashed by up to 70 per cent, vendors across various pavilions are offering final deals on everything from abayas and accessories to footwear and traditional garments. Retailers are marking the end of the season with heavy discounts to clear out stock. In the UAE Pavilion, abayas and jalabias that once sold for Dh150–Dh200 are now available for as low as Dh50. 'These are quality pieces, and at these prices, they're going fast,' said Hilal, a vendor at the pavilion. Similar deals can be found throughout the venue. At the India Pavilion, shoppers can pick up three pairs of sandals for Dh100, while at the Pakistan Pavilion, leather jackets have dropped from Dh300 to Dh150, and belts are now three for Dh100. Mohammed Ali, a vendor in the Syria Pavilion, said the turnout has been strong all week. 'It's been a great season, and now we're celebrating by giving our customers unbeatable prices.' Visitors are taking full advantage. Fatima Shamser, a Dubai resident, said she purchased abayas for just Dh60—less than half the price she saw weeks ago. 'I ended up buying three,' she said. With just days left, the bustling lanes of Global Village are filled with bargain hunters eager to shop one last time before the gates close. From souvenirs to summer gifts, the final week is proving to be a shopper's paradise. News Source: Khaleej Times
NDTV
06-05-2025
- Business
- NDTV
Who Is Balvinder Singh Sahni, Indian Origin Billionair Jailed In Dubai For Money Laundering
The businessman was convicted along with 33 others, including his son Dubai: Dubai-based Indian businessman Balvinder Singh Sahni will be jailed and deported from the United Arab Emirates (UAE) for financial crimes, including money laundering. Also known as Abu Sabah, the billionaire received a five-year prison sentence and a Dh500,000 (Rs 1,14,89,750) fine. A Dubai court also ordered the confiscation of Dh150 million (Rs 3,446 million) from the businessman before he is deported from the country. A well-known name in Dubai's elite circles, Sahni has been convicted of laundering Dh150 million through a network of shell companies and forged invoices, according to a report by Gulf News. The businessman was convicted along with 33 others, including his son, reported Khaleej Times. Who Is Balvinder Singh Sahni The 53-year-old businessman is the founder and chairman of the Raj Sahni Group (RSG) property development firm, which operates in the UAE, the US, India, and other countries. Per media reports, his company's Dubai property portfolio includes the Qasr Sabah's residential buildings in Dubai Sports City, a 24-storey Burj Sabah apartment complex in Jumeirah Village Circle, commercial property in Bay Square, Business Bay and a five-star hotel called Sabah Dubai, among others. A well-connected name in Dubai's elite circle. Sahni is known to be a luxury car collector and often posts his expensive vehicles on social media. He made headlines in 2016 after he purchased car number plate D5 for Dh33 million (about $9 million at the time) for one of his Rolls-Royce cars. Often seen wearing his distinctive royal blue kandura, baseball cap and matching trainers, Sahni has around 3.3 million followers on Instagram. Case Against Sahni The case against Sahni and other defendants was initially filed at the Bur Dubai Police Station in 2024 and was later transferred to the Public Prosecution. Probe against them found extensive financial data and business links both within the UAE and abroad. In its ruling last Friday, Dubai's Fourth Criminal Court convicted Sahni, along with other defendants, of operating a sophisticated money laundering network using shell companies and suspicious financial transactions. The court ordered Sahni to pay a fine of Dh 500,000 and to forfeit assets worth Dh 150 million, believed to be proceeds of the illegal activity. The court also ordered his deportation upon completing the sentence. Reports said some defendants were tried in absentia. Several received lighter penalties, including one-year jail terms and fines of AED 200,000, while three companies were each fined AED 50 million.
The National
04-05-2025
- Business
- The National
Indian businessman to be jailed and deported from UAE for financial crimes
An Indian businessman who flaunted his wealth through snapping up rare number plates worth millions of dirhams at auction is to be deported from the UAE after serving a jail term for money laundering. Balvinder Sing Sahni, who also goes by the name Abu Sabah and who claimed to be a billionaire, was convicted of a string of financial crimes as founder and chairman of property developers, the Raj Sahni Group (RSG). The 53-year-old has been jailed for five years and fined Dh500,000 for money laundering by Dubai's Fourth Criminal Court, Arabic-language dailies Emarat Al Youm and Al Bayan reported. A further Dh150 million of assets have been seized from the billionaire. The company's Dubai property portfolio includes the 24-storey Burj Sabah apartment complex in Jumeirah Village Circle and the Qasr Sabah's residential buildings in Dubai Sports City. RSG also owns commercial property in Bay Square, Business Bay and the five star Sabah Dubai Skyline hotel and residences under construction in Sufouh Gardens. As a luxury car collector who often posted photos of his expensive vehicles on social media, Sahni made headlines in 2016 after purchasing the single-digit 5 Dubai licence plate for Dh33 million, around $9 million at the time. The well connected Sahni was a familiar presence on Dubai's social scene, often seen wearing his distinctive royal blue kandura, baseball cap and matching trainers. His Instagram feed is filled with videos flaunting his wealth to his 3.3 million followers, shopping in luxury stores and posing with lions and chimpanzees in private zoos. A criminal investigation into his business practices opened in late 2024, uncovering a complex network of illicit finance including shell companies and bogus invoices. Sahni will be deported from the UAE on completion of his jail term.
