A Dubai Court of Appeal has hiked the fine against Indian businessman Balvinder Singh Sahni to Dirham 150 million - about Rs 360 crore in a money laundering case.

The court upheld the initial ruling, which included a five-year prison sentence, a personal fine of Dh500,000 (Rs. 1.20 crore), and deportation after serving the sentence, reported Khaleej Times.

Involving 33 defendants, the case is considered one of the financial crimes reported in the country.

Investigators stated that Sahni and others established a network of shell companies and conducted suspicious transfers to move illicit funds both within and outside the UAE, Khaleej Times reported.

The businessman was convicted of laundering money as part of an organised criminal group.

He was also convicted of possessing and concealing items believed to be of illegal origin.

Dubai authorities ordered to confiscate  Dh150 million in criminal proceeds, along with computers, phones, and other belongings that were seized during the proceedings.

Three companies, which were linked to the case, have been fined  Dh50 million each.

Who is Balvinder Singh Sahni?

Also known as Abu Sabah, Sahni was once commonly seen in Dubai's elite circles.

He was known for his flamboyant and luxurious lifestyle.

  He famously spent Dh33 million at a public auction in 2016 to buy Dubai's coveted single-digit license plate "5", reported Khaleej Times.