New Delhi, May 6 -- 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 ( Rs.344 crore) from the businessman, Gulf News reported.

A fine of 5,00,000 AED ( Rs.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.

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 traditiona...