ED Raids Anil Ambani-Linked Premises in Major Money Laundering Probe
The Enforcement Directorate (ED) is conducting widespread raids at locations linked to Reliance Group chairman Anil Ambani in Delhi and Mumbai in connection with a high-stakes money laundering investigation, according to official sources.
The raids follow two FIRs filed by the Central Bureau of Investigation (CBI), which allege significant financial irregularities involving several companies. As part of the ongoing probe, the ED is searching around 35 locations and examining documents from more than 50 companies reportedly associated with the case. Over 25 individuals have also been questioned.
Preliminary findings by the ED suggest a coordinated effort to divert public funds by deceiving banks, shareholders, investors, and public institutions. The suspected offenses include bribery of senior banking officials, particularly involving former executives at Yes Bank Ltd.
Between 2017 and 2019, Yes Bank allegedly sanctioned loans worth around ₹3,000 crore to entities under the Reliance Anil Dhirubhai Ambani Group (RAAGA). The ED claims to have uncovered evidence of an unlawful quid pro quo, with payments made to companies privately held by Yes Bank promoters just before loan approvals.
The investigation is ongoing and could result in further legal action as authorities dig deeper into the financial transactions and corporate ties involved.
News Source : Information for this article was gathered from a variety of reliable news outlets.
