Who Is Balvinder Singh Sahni? Indian Billionaire Jailed In Dubai, Kept Black Bugatti To 'Wards Off Evil Eye'

(MENAFN- Live Mint) Balvinder Singh Sahni, a Dubai-based Indian billionaire, was sentenced to 5 years in jail on charges of money laundering. A Dubai court ordered the confiscation of 150 million AED ( ₹344 crore) from the businessman, Gulf News reported.

A fine of 5,00,000 AED ( ₹1.14 crore) was also imposed on the Indian businessman. Besides, the court ruled that Sahni be deported following the completion of his jail sentence.

Who is Balvinder Singh Sahni?

Balvinder Singh Sahni, widely known as 'Abu Sabah', is the founder of a property management firm with operations in the UAE, the US, India, and other countries, Gulf News reported.

Meanwhile, Khaleej Times reported that Balvinder Singh Sahni was the chairman of the RSG Group and often appeared in traditional Emirati attire, usually paired with a baseball cap.

He 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.

Known for his high-profile investments and extravagant lifestyle, he garnered public attention in 2016 after purchasing a single-digit car plate 'D5' for 33 million AED ( ₹75 crore) at a special auction for distinguished number plates. It was then 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.”

As per the reports, Sahni famously surrounded himself with items he believed attracted fortune - or warded off misfortune.

Among them was a limited-edition black Bugatti, which he once parked in the centre of his 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.

What is Balvinder Singh Sahni accused of?

Balvinder Singh Sahni was accused of being involved in money laundering through a criminal organisation. Last week, he was sentenced to five years in prison and fined Dh500,000 for laundering Dh150 million through a network of shell companies and suspicious financial transactions.

The verdict, handed down by Dubai's Fourth Criminal Court, reportedly ordered Sahni's deportation and the confiscation of his funds, electronic devices, and financial records.

Sahni's son was among 32 others convicted alongside him. Some defendants were sentenced in absentia. Others received lighter penalties, including one-year prison terms and Dh200,000 fines.

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