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Dubai Billionaire “Abu Sabah” Was Reportedly Arrested On Charges Of Fraud
Smashi Business broke the news on February 24 that Balvinder Singh Sahni aka “Abu Sabah” has been arrested on charges of fraud.
If you don’t know who Abu Sabah is, he is a Dubai-based billionaire, the Founder and Owner of RSG Group of Companies. The spotlight began shining on him when in 2016, he purchased the coveted number ‘5’ license plate for AED33 million – a sum that goes directly to charity. RTA holds auctions to sell exotic license plates but the proceeds all go to charity.
In an interview, he said that when he first visited the Burj Al Arab in 2006 he was denied entry because his car’s license plate had more than 2-digits, otherwise he needed a reservation.
Abu Sabah reportedly owes UAE banks over AED100 million
It’s also been reported that financiers, senior managers and his eldest son were arrested alongside him
Both Abu Sabah and his son have been off social media in recent days and people have picked up on their unusual disappearance. Followers have been commenting on Abu Sabah’s most recent post, asking if he’s been arrested or not. Smashi Business exclusively reported that he’s been cooperating with authorities to avoid jail time.
He was invited to give financial and business advice on the Lovin Dubai show 2 months ago.
A little bit about him: He’s an Indian national who was born in Kuwait in 1972. It was reported that up until 2020, his net worth was estimated at $2 billion!
ALSO READ: Emirates Crew Heroically Control An Aggressive Unruly Passenger Mid-Flight
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