New Delhi, May 6 -- 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 ( Rs.344 crore) from the businessman, in addition to 5,00,000 AED ( Rs.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 purchas...