Satish Sanpal (Photo: X)
Abu Dhabi: The United Arab Emirates’ Financial Intelligence Unit (FIU) has reportedly directed banks, financial institutions and virtual asset service providers (VASPs) to temporarily freeze assets linked to 41-year-old Dubai-based Indian-origin businessman Satish Sanpal as part of an ongoing money laundering investigation.
According to media reports, the FIU directive covers Sanpal’s bank accounts, investments, digital wallets and safe deposit boxes. The temporary freeze also extends to accounts held by his wife, Tabinda, and several companies linked to the couple.
Sanpal is widely known for appearing alongside his wife, Tabinda, in the Netflix reality series Desi Bling, which offers a glimpse into the lavish lifestyles of affluent South Asians living in Dubai.
The directive instructs banks and VASPs to immediately freeze withdrawals, transfers and access to safe deposit boxes belonging to those named in the notice. Financial institutions are also required to obtain documents establishing the legitimacy of transactions and the lawful origin of funds. Deposits may continue to be accepted during the freeze period, but withdrawals and transfers remain prohibited.
The entities named in the directive include ANAX Capital Asset Management Company, ANAX Capital Financial Markets LLC, ANAX Holding FZCO and SSB Bazaar General Trading LLC.
The inclusion of VASPs is significant because cryptocurrencies are legally recognised and widely used in the UAE, including for certain property transactions. Under the country’s anti-money laundering framework, banks and VASPs are designated reporting entities and must comply with FIU directives.
The temporary freeze is expected to remain in force for up to 30 days unless the FIU issues further instructions. Any extension beyond that period requires authorisation from the UAE Attorney General.
Authorities have not disclosed the information that prompted the investigation, and it remains unclear whether the freeze will be extended beyond the initial 30-day period.
Sanpal has previously denied allegations relating to his business activities. In May, the Delhi High Court
observed that media reports had “prematurely labelled” him a culprit even though the official investigation was still ongoing. He could not be reached for comment, and it was not immediately known whether he was in the UAE when the directive was issued.Originally from Jabalpur in Madhya Pradesh, Sanpal left school after Class 8 before moving to the UAE, where he established businesses in real estate, hospitality and finance. He later founded ANAX Holding and became known for hosting high-profile events attended by business leaders and Bollywood celebrities.
No criminal charges or convictions have been announced against Sanpal, and the investigation remains ongoing. The temporary asset freeze does not constitute a finding of guilt.
This post was last modified on August 3, 2026 12:10 pm