Indian businessman Balvinder Singh Sahni, popularly known as Abu Sabah, was ordered by a Dubai court to jointly pay Dirham (Dh) 150 million ( ₹3,58,04,38,500) with his co-defendants in the money laundering case that shocked the nation. Earlier, the court sentenced him to five years in jail and a fine of ₹1 crore, adding that he will be immediately deported after completing his sentence.
What is he charged with?
An investigation into Sahni’s business practices led to the discovery of illicit financial activity, reported the UAE state-owned English-language daily The National, citing court documents. Reportedly, he laundered money concealed in digital currencies, including Bitcoin. He continued his activities between October 2018 and January 2019.
How did the scam work?
Abu Dhabi’s State Security Agency found that 30 individuals were involved in the money laundering activity. They continued their business in cooperation with organised crime groups in the UK. The defendants hail from various countries, including Pakistan, the UK, India, Iraq, Jordan, Palestine, and the Netherlands.
According to the outlet, funds owned by UK-based drug traffickers were transferred to digital wallets owned by Sahni and managed by his family members. The other defendants then transferred the digital money into cash and delivered it to a rented apartment at a luxury Dubai hotel.
After deducting his fee of four per cent, Sahni deposited the rest of the money into his companies’ accounts.
Who is Balvinder Singh Sahni?
Sahni, who gained popularity among social media users as Abu Sabah, owns properties in some of Dubai’s poshest areas. According to the outlet, he has properties in the Burj Sabah apartment complex in Jumeirah Village Circle and the Qasr Sabah residential buildings in Dubai Sports City. In addition, he owns several commercial properties in Business Bay and Sabah Dubai Skyline.
He often shared visuals of his luxury cars on Instagram. In 2016, he boasted of purchasing the single-digit ‘5’ Dubai licence plate for Dh33 million, which translated into ₹60 Crore at that time.
How much money did Sahni launder?
The prosecutors argued that he laundered over Dh180 million ( ₹4,29,65,26,200), reported the Siasat Daily. However, the Court of Appeal confirmed the figure at Dh150 million.
