Dubai Businessman Satish Sanpal Faces Setback as UAE FIU Freezes Assets in Money Laundering Probe:

Dubai-based Indian-origin businessman Satish Sanpal has suffered a major setback as the UAE Financial Intelligence Unit (FIU) has temporarily frozen his assets as part of a money laundering investigation. According to media reports, bank accounts linked to his wife, Tabinda, and businesses connected to the couple have also been frozen.

The frozen entities include ANAX Capital Asset Management Company, ANAX Capital Financial Markets LLC, ANAX Holding FZCO, and SSB Bazaar General Trading LLC. Other than these, digital wallets and safe deposit boxes have also been frozen.

This temporary freeze was announced on July 13 for 30 days. As per the UAE law, the freeze will be automatically withdrawn after the completion of 30 days, until the concerned authorities further extend it.

The freeze order published by the UAE's Financial Intelligence Unit reads "Pursuant to Paragraph (2) of Article (5) of Decretal Federal Law No. (10) of 2025 On Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Proliferation you are requested immediately to freeze any funds or accounts or deposits or investments and deny access to the safe deposit boxes, and stop any financial transfers or withdrawals and inform us of any credit facilities, belonging to the below mentioned names."