Balvinder Singh Sahni, an Indian billionaire based in Dubai, was sentenced to 5 years in prison for charging money. The Dubai Court ordered the seizure of 150 million AEDs ( £344 Crore) from the entrepreneur, Gulf News reported.
A fine of 5,00,000 AED ( £1.14 crore) was also imposed on the Indian entrepreneur. In addition, the court ruled that Sahni would be deported after his prison.
Who is Balvinder Singh Sahni?
Balvinder Singh Sahni, widely known as “Abu Sabah”, is the founder of a property company with operations in SAE, USA, India and other countries, Gulf News reported.
Meanwhile, the Khaleei Times announced that Balvinder Singh Sahni was the chairman of the RSG group and often appeared in the traditional Emirati clothing, usually paired with a baseball cap.
He is a “entrepreneur whose love for number 9, colorful blue, luxury cars and rare license plates made subtitles more often than his commercial businesses,” Khaleei Times said.
Known for its important investment and extravagant lifestyle and gained public attention in 2016 after buying a single -digit car plate “D5” for 33 million AED ( £75 crore) in a special auction for significant numeric boards. At that time it was the most expensive numeric board.
“I have both Dubai 5 and Abu Dhabi 5,” he said in an interview for 2022, adding, “I don’t even know how many cars I have. My number is more than my vehicles.”
According to reports, Sahni surrounded himself greatly objects he believed he attracted a fortune – or averted misfortune.
Among them was the black bugatti with a limited edition, which he once parked on the middle of his headquarters Palm Jumeirah on the advice that something black would protect him from the “evil eye”, Khaleei Times said.
“I don’t like black either,” said Sahni in an interview for YouTube filmed in his golden home. “But they said it was protecting from the evil eye,” he quoted like he said.
What is Balvinder Singh accused of?
Balvinder Singh Sahni was accused of engaging in money washing through a criminal organization. Last week he was sentenced to five years in prison and fined 500,000 DH for washing DH150 million through the Shell network of companies and suspicious financial transactions.
The judgment, which was submitted by the Fourth Criminal Court in Dubai, allegedly ordered the disagreement and seizure of its funds, electronic equipment and financial records.
Sahni’s son was among the 32 others convicted next to him. Some defendants were convicted in absence. Others received lighter fines, including one -year prison and DH200 000 fines.
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