Representatives for Dubai-based Indian businessman Satish Sanpal have denied recent media reports linking him to a money laundering investigation, saying no UAE authority has publicly announced any allegations against him or his businesses.
In a statement sent to The American Bazaar after publication of its earlier report, Sanpal’s team said, “No competent enforcement or regulatory authority has issued any official announcement or public disclosure concerning the allegations being reported.”
The statement comes after multiple media outlets reported that the UAE’s Financial Intelligence Unit (FIU) had ordered banks, financial institutions and virtual asset service providers to freeze Sanpal’s accounts, along with those of his wife, Tabinda, and several companies linked to the couple, as part of an ongoing financial investigation.
Sanpal’s representatives also sought to reassure customers and business partners, saying the reported matter has had no impact on the operations of his business empire.
READ: UAE freezes the assets of Indian businessman and ‘Desi Bling’ star Satish Sanpal (August 3, 2026)
“The matters referred to in the recent reports do not affect ANAX Developments’ operations, governance, contractual commitments, financial arrangements or ongoing business activities,” the statement said.
The American Bazaar’s earlier report, based on media accounts, noted that UAE authorities had not announced any formal charges or convictions against Sanpal. It also mentioned that the reported FIU directive was part of an ongoing investigation and that, under UAE law, asset-freeze orders are subject to review and require additional authorization to remain in effect beyond an initial period.
Sanpal, founder of Dubai-based ANAX Holding, is known for his investments in real estate, hospitality and financial services and gained wider public recognition through his appearance in Netflix’s reality series “Desi Bling.” Earlier this year, the Delhi High Court observed that he had been “prematurely labelled” a culprit in media reports despite the absence of any concluded investigation, according to previous reporting.
The American Bazaar will continue to monitor the matter and update this story as more information becomes available from the relevant authorities.